Resilient to Antifragile - Shaping up of Supply Chain
Buzzword which existed AND got a lot louder over the past year or so is Supply Chain Resilience . From Supply Chain Leaders to Analysts, Executives in the Boardroom to executives in the front line seem to have drilled it down to their Strategic as well as Operating environments that Supply Chain which is Resilient is not only the need of the hour but also the future. Flexibility & Responsiveness in a scenario which didn't unfold as anticipated hence the need to help the system achieve its preconceived state through various mechanisms is typically what the industry appreciates as "Supply Chain Resilience". e.g. An event like Covid-19 occurred. The systems has to be restored to its optimum as soon as it can. Enterprises which have bee able to respond to that in the most efficient manner have been said to have a "Resilient Supply Chain". In short the disruption didn't create negative value for its stakeholders. Resilience technically means the ability of t...