Developing a resilient supply chain

Abstract

In today’s global economy, the fierce competition among companies makes them to operate in uncertainties whereby high risks are faced. Should in case these risks become reality, they will absolutely have a negative impact on the supply chain of these organizations, resulting in deformations that could lead to a drop in profitability and competitive advantages. Creating a resilient supply chain could be the answer; however, this is a new area of study that still needs to be properly investigated. Although, “resilience” could be defined as the ability of a substance to get back to its original state after deformation, there is still no concrete definition of a “resilient supply chain” or “supply chain resilience”. This paper therefore analyses the supply chain and the risks it faces, investigates the resilience of the supply chain, and gives appropriate strategies and tools that would help avoid these risks, and as a result, an organization would be able to bounce back after any deformation along its supply chain.