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Supply chain resilience.

Alan Elwood1

  • 1Risk and Resilience Ltd.

Journal of Business Continuity & Emergency Planning
|September 1, 2021
PubMed
Summary
This summary is machine-generated.

Modern supply chains are vital but fragile, facing numerous threats and societal pressures. This research highlights the importance of supply chain resilience and offers practical methods to mitigate risks and improve robustness.

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Area of Science:

  • Economics
  • Business Management
  • Risk Management

Background:

  • Modern economies heavily rely on intricate supply chains.
  • These supply chains are increasingly vulnerable to diverse natural and manmade threats.
  • Globalisation and evolving societal expectations (e.g., ethical considerations) add further pressure.

Purpose of the Study:

  • To underscore the critical importance of supply chain resilience.
  • To assess the current state of supply chain risk mitigation.
  • To provide actionable techniques for enhancing supply chain robustness.

Main Methods:

  • Exploration of supply chain significance and inherent brittleness.
  • Analysis of various threats (natural, manmade) and societal pressures.
  • Assessment of existing risk mitigation strategies and resilience status.

Main Results:

  • Supply chains are fundamental to economic function but exhibit significant fragility.
  • A wide range of risks, from environmental to geopolitical, challenge supply chain stability.
  • Current resilience levels and risk mitigation effectiveness require enhancement.

Conclusions:

  • Building resilient supply chains is imperative for economic stability.
  • Organisations must proactively understand and address supply chain vulnerabilities.
  • Practical strategies can significantly improve an organisation's supply chain resilience.