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SEVEN PRINCIPLES OF SUPPLY CHAIN MANAGEMENT
Recent events have shown just how fragile many supply chains are . Here ’ s how to apply seven principles of supply chain management to build in more resilience .
Introduction
The COVID-19 pandemic has thrust the supply chain into the spotlight . Its fragility and how to make it more resilient have been widely discussed . The phrase ‘ supply chain ’ has become a buzzword to explain a complex process with many moving parts . But what can be done practically to make it more robust ? To answer this question , we need to better understand the principles of the supply chain .
But first , I would like to challenge conventional thinking of what a supply chain actually is . The term ‘ supply chain management ’ can be traced back to 1982 and has gained in popularity throughout the 1990s . Since then , many books and theories have been written about it , and many people have taken on the title ‘ Supply Chain Manager ’.
Recently , images of panic buying and supermarket shelves emptied of toilet paper , rice and flour were seen in many countries . Suddenly , people who had never thought about the supply chain faced the prospect of shortages of staple products and panicked . This was partly caused by a failure to understand the supply chain , but it also highlighted how vulnerable and susceptible it is to outside influence . p
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