Which of the following approaches to supply chain risk management is most appropriate when designing the structure of a supply chain network?
Which of the following approaches to supply chain risk management is most appropriate when designing the structure of a supply chain network?
When designing the structure of a supply chain network, incorporating redundancy is the most appropriate approach to supply chain risk management. Redundancy involves having multiple suppliers, production facilities, and distribution channels, which can help mitigate the impact of disruptions by ensuring there are alternative sources of supply or routes to market. This strategy builds robustness into the supply chain, reducing vulnerability to unexpected events or failures in any single part of the system.
Incorporating redundancy into the supply chain involves having multiple suppliers, production facilities, and distribution channels in place. This redundancy can help to mitigate the impact of disruptions by providing alternative sources of supply or routes to market.