Title: Supply Chain Disruption – Reducing the impact and cost
Headings: Supply Chain Disruption – Reducing the impact and cost of supply chain disruption
Supply Chain Disruption – Reducing the impact and cost of supply chain disruption
What is a supply chain disruption?
How to mitigate the consequences of supply chain disruption – Avoid and Embrace
3 Key Factors that minimize damage of a supply chain disruption
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Content: Supply Chain Disruption – Reducing the impact and cost
Supply Chain Disruption – Reducing the impact and cost of supply chain disruption
Posted on February 12, 2020
February 24, 2020
by WGA Consulting, LLC
What is a supply chain disruption? A Supply Chain Disruption is an unplanned or unanticipated event that disrupts the normal flow of goods, materials or services within an entire supply chain. Supply chains have become more complex and long throughout the years. Furthermore, the frequency and intensity of supply chain disruptions is also constantly increasing. Companies have learned valuable lessons from Japan’s tsunami in 2011, Thailand’s 2011 floods, and the 2010 eruption of the volcano in Iceland related to the impact of supply chain disruption. These and other events have severally crippled and disrupted supply chains around the world. After these events, Supply Chain Organizations have slowly realized the importance of taking calculated risks and reducing costs. However, natural disasters are not the only threats or causes for disruption in the supply chain. Political instabilities or wars, cyber-attacks and information fragmentation are also important factors than can damage the supply chain and operations of a company. In 2020, an era of increased volatility, organizations focus on the protection and reinforcement of their supply chain, to make it more flexible and resilient to adversities.