Reconceiving Supply Chain (SC) Risk Management Strategies with the outbreak of pandemic like COVID-19 (Published)
Supply Chain (SC) is becoming more and more interconnected and globalized in the recent days and hence, with the outbreak of COVID-19, it has engulfed the whole supply and distribution systems of the world affecting the every aspect of human life. SC itself contains some risks as the name suggests and there are many robust SC risk management strategies in place to address the risks. With the outbreak of COVID-19, SC risk management strategies are encountered and SC professionals are trying to explore the strategies like intervention of ICT, supplier base optimization, improving SC visibility, stressing more importance on the free flow in data and information, risk diversification and so on. The article attempts to identify the extent of the SC risk management strategies and finally put forward some recommendations to address those risks in the each segment of the SC.
Keywords: Collaboration, Supply Chain, risk management process, risk triggers, tiering