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Supply Chain Resilience

The Point of View of Quintiq


The butterfly effect
The “butterfly effect” was a term coined by mathematician, meteorologist and chaos theory expert Edward Lorenz around 1960. It refers to how one small incident can have a huge impact later on down the line. The recent West Coast ports cargo-handling disruption is an example of the butterfly effect. The labor dispute caused freight bottlenecks. Companies using West Coast ports had to spend additional millions to cover extra inventory costs and shipping delays. US trade deficits rose to a massive $46 billion in December 2014.

Have you got what it takes to bounce back?
Labor disputes, bad weather, and IT outages are just some examples of disruptions that could affect an otherwise well-designed supply chain. They are unpredictable, inevitable, and can cause substantial damage to business operations and financial performance.

What do you do when a wrench is thrown in the works? Scrambling for solutions puts you at risk for being left behind your competitors.

What you need is a supply chain that is designed to be resilient in the face of disruptions.

But what makes a supply chain resilient?

 


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Last update 9 Aug 2023
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