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Solutions Corner:
Managing supply chain risk
Have you considered what you'd do if things went awry in your supply chain? A little preparedness could go a long way.
by Ronald Swift
Much of what happens from day to day is clearly out of our control, from a dead cell phone battery in the midst of a crucial call to a 20-car pile-up between you and the deal of a lifetime.
Business leaders, however, must be prepared for uncontrollable events of a much larger scale. Fire could destroy a vendor's factory, a storm could disrupt key transportation routes, strikes could cripple supplier production—anything could happen, and the onus is on you to plan for it. Accurate and timely supply chain management and demand chain management decisions are critical. Predictions for unit demand, capacity requirements, material prices, competitor actions and customer behaviors drive companies every day.
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