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Covid-19 - Managing supply chain risk and disruption

Covid-19 - Managing supply chain risk and disruption

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SUMMARY

This Deloitte report takes a look at short-term actions that businesses can implement in the wake of the Covid-19 outbreak. The paper also examines the long-term solution of digital supply networks.

According to the study, the coronavirus outbreak could be the black swan event that leads many businesses and sectors to transform their global supply chain model. The coronavirus crisis has already made something evident, the paper adds, which is the high dependence on China by many businesses when it comes to fulfilling their need for raw materials and finished products.

The global supply chain is at risk due to the Covid-19 crisis and China's role as the so-called "factory of the world". Over 200 of the Fortune Global 500 firms are present at the Chinese province where the coronavirus originated. Businesses whose supply chain is reliant on Chinese suppliers are experiencing significant disruption.

The report reviews how organizations can respond to immediate changes. To protect their supply chain operations, businesses should start by raising awareness on the Covid-19 symptoms and prevention, restricting non-essential travel, promoting flexible work arrangements, and concentrating on cash flow, among other aspects.

The coronavirus outbreak shows that many businesses are not completely aware of the vulnerability of their supply chain relationships to global shocks, the report says. However, new supply chain technologies are appearing in improving visibility across the supply chain and helping organizations to confront these shocks. 

The traditional supply chain model is experiencing a transformation into digital supply networks, that enables companies to become connected to their complete supply network and facilitate end-to-end visibility, cooperation, agility, and optimization. The paper concludes that organizations that deploy digital suppy networks will be in a much better position to handle unexpected events such as the coronavirus crisis.

 

OUTLINE

Black swan

Impact on global supply chain

Covid-crisis response

New supply chain model

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
Covid-19 - Managing supply chain risk and disruption
Region
Global
Published
March 15, 2020
Publisher
Deloitte
Author(s)
Jim Kilpatrick, Lee Barter
Price
FREE
Language
ENGLISH

Content

Number of Pages
20
Number of Tables
0
Number of Exhibits
8
Topics
business-and-corona
Tags
black swan, china, corona, coronavirus, Covid-19, Deloitte, digital supply networks, flexible work, global, supply chain, supply chain management
Author(s)
Jim Kilpatrick, Lee Barter
Methodology
Not available.

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