The supply chain is a critical and vital part of all industries. Its importance is such that it helps organizations and enables them to operate normally and grow their business, without obstacles. With coronavirus, its importance has risen even further. Today, it is not just regarded as a key driver of customer service improvement but is also regarded as a key instrument for business survival.
According to a survey, around 57% of the organizations believe that the supply chain management system gives them a competitive edge over their peers and helps them to grow their business.
Supply chains are a complex web of intermediaries stretching across the globe, connecting a broad array of players from raw factories to material producers, storage locations, and transport/logistics partners.
Working cohesively, they offer many key benefits but at the same time also come with risks, some of which are hard-to-control like fires, natural disasters, cyber-attacks, terrorism, etc. Then there are other risks like theft, internal conflicts, etc., all of which can cause damage to goods and create in the bargain, serious delays in delivery of the goods to the end-consumers.
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