This article discusses why companies need to shore up their supply chains to guard against disasters. Supply chains, which provide raw materials and distribute finished goods to end customers, now extend through many independent companies, and nearly every chain is global. As a consequence, major events from around the world, both natural and man-made, affect the flow of goods and have an increasingly sharp and visibly evident impact on businesses. It is therefore essential that companies identify their entire upstream supply chain—not just their tier-one suppliers but all suppliers and subsuppliers . They should try to understand their downstream customers and intermediaries as well. Businesses also need to conduct a vulnerability assessment for their extended supply chain, not just internal operations. This includes assessing geographic risk, organizational risk, embedded risk, and supplier risk. Organizations should also develop a plan to create a culture that supports supply chain risk management, including active risk monitoring, education, training, and simulation exercises.
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June 2011
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Only as Strong as the Weakest Link
As the Effects of the Sendai Earthquake and Tsunami Ripple Through the Global Economy, Companies Should Shore up their Supply Chains to Guard Against Disaster.
James B. Rice, Jr. is a deputy director of the MIT Center for Transportation and Logistics and the director of the Supply Chain Exchange at the Massachusetts Institute of Technology in Cambridge. Prior to joining MIT, Rice managed manufacturing and distribution operations at Procter & Gamble.
Mechanical Engineering. Jun 2011, 133(06): 26-31 (6 pages)
Published Online: June 1, 2011
Citation
Rice, J. B. (June 1, 2011). "Only as Strong as the Weakest Link." ASME. Mechanical Engineering. June 2011; 133(06): 26–31. https://doi.org/10.1115/1.2011-JUN-1
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