Given the nearly constant disruption in the business world over the last three years, with more expected to come, it was not surprising that the Collins dictionary recently selected permacrisis as its Word of the Year. Supply chain executives, unfortunately, are quite familiar with the phenomenon, defined as “an extended period of instability and insecurity, especially one resulting from a series of catastrophic events.” Geopolitical instability, the global COVID-19 pandemic, rising fuel costs, ballooning inflation, increasing regulation, and international calls for a reduction in CO2 emissions have applied pressure on many organizations. As executives understand, at any point, one of these scenarios may flare up and disrupt the operation of their business— and with countless other risks lying in wait, there is no room for vulnerability in the supply chain.
Five Supply Chain Strategies to Achieve Resiliency and Avoid Risk
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