Forbes talks supply chain risk management

By Freddie Pierce
When Forbes talks, you listen. Well, at least you should. In a blog posted last month by Forbes, author Mark Humphlett of Infor talks about some of the...

When Forbes talks, you listen.

Well, at least you should.

In a blog posted last month by Forbes, author Mark Humphlett of Infor talks about some of the top strategies companies can put into place to build a resilience to supply chain disruptions.

Here are some of the highlights on tips to help avoid supply chain disruptions in times of disaster:

Design networks to sustain potential disruptions in the first place

Use advanced supply-chain tools for a complete risk assessment

Develop a solid, institutionalized business process that considers supply chain risks

Build risk identification into everyday supply chain operations

Create supply chain agility

It seems that supply chains around the world have implemented, or are implementing, the first four solutions following the Japan disaster. Businesses around the world are better prepared now than they were before the Japan disaster, with supply chain networks and practices being put into place to help mitigate the effects of a natural disaster.

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The fifth point is the most interesting in my mind.

By creating supply chain agility, Humphlett argues that having supply chain agility can provide a “massive competitive advantage in meeting demand” driven by specific market needs. In a world where customizable supply chain solutions are a huge market focus, having some sort of supply chain agility seems like a pretty good idea.

With everything happening to Japan following the earthquake and tsunami, this seems relevant for any business leader in the world today. You can’t prepare for disasters, but you can better position yourself, should emergencies arise.

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