Supply Chain Resilience Quotes

Waste is one of the biggest threats to supply chain resilience. No system can be resilient and wasteful at the same time.

Permaculture economics empowers local resilience, reducing dependence on distant supply chains.

By integrating ESG principles into the core business strategy, companies can foster innovation and build resilient supply chains that withstand market volatility.

One of the solutions to increasing the resilience of the rural economy is the automation of the rural economy in a sustainable manner. The adoption of a sustainable and inclusive approach to automating the rural economy can enhance efficiency and speed at each stage of the supply chain.

Homer-Dixon says increasing complexity makes societies more resilient only up to a point. Connections between villages might mean one comes to the other’s aid in an attack. But as the villages become more tightly coupled, both may suffer when one is attacked. A loose network absorbs shock; a tightly coupled one transmits it. That is happening in the Covid-19 pandemic. Countries go into lockdown; people stop shopping, traveling, and producing; and the effects ricochet through a tightly coupled global economy. The global supply chains of money, materials, people, energy, and component parts that underpin industries falter and break. Airlines go under as they are not set up to weather even a temporary disappearance of travelers. Malaria worsens in Africa as insecticide and antimalarial bed net deliveries falter. Microcredit that underpins small businesses throughout the developing world defaults because payment collectors are locked down, causing ramifications throughout an economy.

Arguments for reshoring many kinds of manufacturing in order to gain greater resilience and reduce unexpected disruptions are not new. The progress of globalization and the actions of multinational companies have been questioned and criticized since the 1990s and, more recently, these sentiments became part of electoral discontent in some countries, most notably in the UK and the US.[98] But as the COVID-19 pandemic unfolded, a remarkable lineup of institutions began to publish analyses and appeals for the reorganization of global supply chains. The OECD looked at the policy options to build more resilient production networks that would rely less on imports from distant places and that could better withstand global trade interruptions

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Equally salient now is the need for the United States and its allies to double down to ensure that malevolent actors such as Iran and Russia cannot successfully launch a cyberattack on electric grids, petrochemical complexes, and financial services. It could be argued there is an overstated sense that, given the availability of alternative energy, the security of oil supply chains no longer matters. The reality is that there are more than 1.2 billion oil-burning vehicles on the road globally, compared to just five million electric vehicles. Thus, the idea that the world economy no longer needs to worry about a cutoff of oil supplies is questionable. But the fact that large energy-consuming governments know what they could do if oil were less available is a big change from the 1970s, when there was heightened fear of a lasting economic dislocation.

A systemic approach to the knowledge collected will help decision makers to construct resilient and proactive measures across these pathways: Prominent partnerships of cooperation and interconnectedness as a new business model are needed to make the existing model of competition between companies obsolete. Heal the broken links in cyber-security by creating cyber-resilient supply and value chains. Leader-shift your business from the culture of fear and uncertainty to the business of trust.