STUDENTS' CORNER - 230
Disruptions to
Supply Chain
Disruptions to supply chain prove
disasters to businesses
In this session we will spend some time
on disruptions to supply chain and how to face the consequences.
Disruptions are in general
distressful. Routine is interrupted.
Planning is thrown out of gear; man has to face the nuisance of disruptions in
such a way that source of nuisance is removed and the flow of things is resumed. Disruptions frustrate and frustration drains
one’s energy and resources.
What are supposed to be major causes of
disruptions? They are Natural disasters, Market forces like price and products,
Global politics and Cyber-attacks.
Natural disasters affect man in so many
ways like social living, business breakdown, physical damage to the buildings
like factories, so on. Sudden surge in
prices may also affect supply chain; companies with no resilient features like
financial back up and a strong customer base are bound to feel the impact of
the market unpredictability. The open and hidden conflicts between countries
ultimately influence the flow of global trade.
Ukraine war is now an obvious example.
Countries are forced to plan their acquisition of oil. The Sri Lankan crisis comes to the fore with
dollars shortage. Cyber-attacks are the recent nightmare to the industries.
Digitization is prone to cyber-attacks Cybercrime cripples the entire gamut of
business activities.
How to face the disruptions? It is one of the most difficult questions to
answer. We can only say being ever prepared strategically to face cybercrime is
the only way. How to be prepared always? It depends on many factors like
financial strength primarily to support an efficient team of IT professionals
always on the lookout for cyber-attacks, market professionals always alert to
the marketing dynamics with a focus on market share and market scenarios that
cover product-range and customer-base, so on.
