How do disruptions, such as natural disasters or geopolitical events, impact global supply chains, and what strategies can be employed to mitigate these risks?
Disruptions such as natural disasters or geopolitical events can significantly impact global supply chains. These events may lead to delays, shortages, or increased costs due to disrupted transportation routes, damaged infrastructure, or political instability. To mitigate these risks, companies can employ strategies such as diversifying suppliers, creating contingency plans, building resilient logistics networks, and investing in risk management technologies. Collaborative relationships with suppliers and partners, along with scenario planning, can also help organizations better navigate and respond to disruptions.