Supply Chain Risk Management And Its Relativity With The Contingency Plan By Oliver Mark

6 June 2018 Education ≈ Online Education

In the article, the author has explained how businesses need to work in it. In the last the article informs students about the professional supply chain management assignment help and its benefits.

In many ways, the supply chain is almost like an entity which is living and breathing – it is like something that negatively influences chain’s one area will certainly make a ripple effect on other areas. This lesson many business houses present across the U.S. have learned recently, after being hit by three major hurricanes.

If we think about the same from a macro perspective, then natural disaster like Hurricane Harvey didn't impact the business temporarily. For the supply chains specifically, it means various suppliers rushing on to search a workable last minute route. It also means the firms looking for new suppliers. The disaster means losses and delays that mid size and small or even the large organizations never going to come out of it and recover from.

The impact of this is now more numbers of businesses are taking a hard look at their present contingency plans. The outcome of this plan of action you can add to your running risk management plans to solidify and reinforce operations.

1. Plan For The Short and Long Term

This most important adjustments businesses must make in their existing supply chain risk management plan are involving the opportunities to consider the disaster’s short-term effects as well as its long-term consequence.

For example, in case of hurricane the most obvious short-term effects it causes includes the road closures. Though, that was the short term effect, still the risk is not over with the end of the storm. The researchers say if the roads going to any particular sites start flooding in before the commencement of the storm, then this will results long-term disruption, which can go about one to four weeks.

2. Collaborate

The second way to update the supply chain risk management contingency plan is eliminating the most common and the biggest mistakes that organizations made that is creating their won response plan in a vacuum.

This is an important lesson with regards to the disaster like Hurricane Harvey that impacts large area at one time in such a manner that nobody was left unaffected virtually. It is important to understand here that supply chain within the context of a particular business doesn't exist simply – it has a symbiotic relationship with almost everyone.

This is an important topic which, academic institutions are teaching to supply chain management students these days. This prepares them for the future challenges. To give in-depth knowledge on the this topic, institutions engage students in assignment writing tasks on this topic. If you have received any such assignment, and you are seeking supply chain management assignment help for the same, then reach to the BookMyEssay. This firm offers excellent assignment help for all the subjects.

 

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