An impending coronavirus pandemic is a prime example of how the whole world has been caught out. Efforts to contain the virus are ramping up, and now maintaining the flow of goods and services in global supply chains feels like dealing with a leaky bucket – where one issue is resolved, another appears.

The globalisation and integration of supply chains, ‘just in time’ strategies, minimum stock levels and volume discounts achieved through sole sourcing strategies have given positive results for manufacturers and retailers.

But, the increased number of parts and complexities in the chain also opens organisations up to situations like these. Best practice in procurement and supply chain management dictates there are always choices to be made when minimising risk. This black swan event is now beginning to seriously de-rail supply chains and affect business productivity in addition to the cost in human lives. Keeping fingers crossed and hoping for the best will not do and pandemic planning is now in place for countries and businesses.

We must all remain vigilant to reduce the effects of the pandemic through risk mitigation, strong sourcing strategies, a review of demand planning and forecasting, with the speed and agility that is expected of professional procurement and supply management. Чи працюють над цими питаннями ваші менеджери ланцюгів постачання? Якщо ви відповідаєте за supply management, чесно дайте відповідь, чи зробили все можливе, аби знизити ризики та пережити цей турбулентний період?