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Volume 32, Issue 3

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Monday, 14 January 2013 03:48

How to Build Resilience in Your Supply Chain

Written by  COLIN IVE, MBA, MBCI

As the disciplines of risk management, business continuity, and emergency management have developed so inevitably the focus of those responsible for this work has been upon their own organization both internally to understand what risks may be encountered or even generated during every day operations and externally to understand the threats which, quite possibly outside of their control, may require the application of the standard risk management approaches of treating, tolerating, terminating or transferring. Beyond the internal and immediate external risk treatments, it has been very difficult to improve risk reduction when considering critical suppliers. However, this is crucial as identifying your supply chain and building relationships with your key suppliers provides you with assurance and security. Instead of leaving your fate in the hands of suppliers, you’re taking control and doing whatever is possible to improve the resilience of your business. The payback of such an approach should include building confidence