How Can Entrepreneurs Build a Resilient Supply Chain?
Building a resilient supply chain involves several key steps:
Redundancy: Establishing backup suppliers and alternative logistics routes can provide a safety net during disruptions. Agility: Developing flexible supply chain processes that can quickly adapt to changing circumstances is essential. Visibility: Enhancing visibility across the supply chain through real-time data and analytics can help identify and address issues promptly. Collaboration: Collaborating with other businesses, industry associations, and government agencies can facilitate information sharing and coordinated responses.