Supply chain resilience

Question 1

Define supply chain resilience

Answer 1

The ability of a supply chain to:
1) prepare for
2) respond to
3) recover from
disruptions while maintaining operational continuity

Question 2

Name and explain the 4 pillars of supply chain resilience.

Answer 2

-Visibility - Real time tracking of inventory, shipments and supplier activity
-Agility - Rapidly adjusting production, sourcing and logistics strategies: Ability to upscale and downscale operations when needed
-Risk management and redundancy: Scenario planning and risk assessment + diversification for suppliers and logistics options
-Collaboration: Strong supplier partnerships, transparent data sharing and cross functional teamwork within the company