How to improve supply chain resilience with the help of economists
Supply chain disruptions usually awaken companies to the problems they have within their supply network. For example, the 2011 Tohoku earthquake and tsunami led to the Fukushima disaster and shortages in the global electronics business. Now Covid-19 affects the supply chain of virtually every product and every business. We will explain why looking at supply chain resilience through the eyes of economists can offer new insights, increasing the awareness for potential risks and setting optimal incentives for risk management. Most importantly though, we will share how to prioritise the risks and focus on tacking those that make the most economic sense and thus improve supply chain resilience.
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