Supply Chain Resilience Lessons From Global Disruptions
Title: Supply Chain Resilience: Lessons From Global Disruptions. Prior to the interruptions, supply chain management had been inefficiency oriented. Companies decreased cost, minimized inventory and quickened delivery. They coordinated suppliers and concentrated production and maintained lean stock levels. JIT delivery was the order of the day. There came the disturbances then. The factories of Asia were shut down, a container ship blocked the Suez Canal, geopolitics severed trade routes, and climate devastated infrastructure. Systems which had brought efficiency proved to be crumbly. Supply chain resilience has been a lesson learned over the last few years. Companies which went through the turmoil realized what it took to make it; companies that failed to achieve this cost it in revenue, ruined reputations, others failed to stay in business. These failure experiences are altering the mindset of companies in regard to supply chains. Efficiency is now crucial, yet there is a crucial nee...