Supply Chain Resilience: What is Supply Chain Resilience?
What is Supply Chain Resilience?
A supply chain's resilience refers to its ability to maintain function during disruptions. A resilient supply chain can quickly adapt to environmental changes and continue to operate despite disruptions.
Supply chain resilience is essential for businesses that rely on global supply chains, as disruptions can significantly impact the availability of goods and materials. A resilient supply chain can help to mitigate the risks associated with supply chain disruptions and ensure that businesses can continue to operate smoothly.
The concept of supply chain resilience has gained increasing attention in recent years as supply chains have become more global and complex, and the frequency and severity of disruptions have increased. Several factors have contributed to this increased attention, including the globalization of trade, the growth of just-in-time inventory systems, and the increase in natural and artificial disasters.
Achieving supply chain resilience requires a comprehensive approach that includes identifying and assessing risks, designing mitigation and response plans, and implementing and testing those plans. It is also essential to clearly understand the value of the assets and resources at risk and the cost of disruptions.
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