Question

You may have read news about the current Coronavirus's impact on global supply chain. How should companies manage to minimize current and future global supply chain disruption? Please share your thoughts.

Answer 1

The global supply chain is very badly affected by the Covid-19 cornonavirus pandemic. There are various ways which can be used by the companies to avoid or to minimize the current and global supply chain disruptions.

The first startegy could be developing advanvanced manufacturing unit that has capacity to encounter such kind of pandemic.

It must use latest technological advancements such as 3D printing and artificial intelligence . It will help to shorten the supply chains and reduce the impact of unprecedented risks.

These manufacturing different units should be spread in different cities rather than one. The another way is the creation of an emergency supply chain management plan . Conducting a supply chain vulnerability audit can also help in minimizing further disruption. In my opinion local supply chain should be created. As the creation of small supply chain is the need of the hour.

Strengthening the in-house logistics network is extremely crucial for companies to manage the crisis response. The further disruption of global supply chain management can also minimized by taking several steps like identifying backup suppliers,diversify supply base,adopting risk evaluation tools etc.