What is Supply Chain Risk? Anything that can happen – call it a risk event – at any point along a supply chain from source through multiple intermediaries and customers to end-user consumers that disrupts the flow of goods, information and/or money resulting in a negative impact on the ability of the operations, infrastructure and services to deliver on their value proposition ensuring the right goods are delivered at the right time to the right customer in the right condition and for the right price.
What is Supply Chain Resilience? The capability and capacity of a supply chain network collectively/holistically and of individual participants in that network individually to “bounce back” from the impact of a risk event, quickly, cost-effectively, and in line with the overall value proposition ensuring the right goods are delivered at the right time to the right customer in the right condition and for the right price.
Building Resilient Global Supply Chains:
• Do you understand the differences between robust and resilient supply chain strategies?
• How do you identify and plan for internal risks in your company along complex global supply chains?
• Do you know how to handle unexpected external risks? Disruptions? Catastrophes?
• What are your company recovery plans?
• Do your plans focus only on organizational and business issues or do they extend to the realities of social, economic, environmental and personal factors?