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Adapting to glob
DISRUPTION
Christina Rebel Moya of Wikifactory shares insights into mitigating risk and maintaining continuity
In today ’ s interconnected world , the global supply chain is an integral part of a business ’ operations . However , as recent crises like the pandemic , economic downturn and natural disasters have highlighted , supply chain disruptions can have significant and extensive consequences . At the onset of the pandemic , transit times worldwide increased by at least 25 percent , resulting in extensive shortages of products across all levels of the value chain . In response , industries around the world have been forced to reassess their supply chain strategies and implement new measures to mitigate risks and maintain continuity .
This is highly beneficial and necessary because it allows companies to remain competitive in a rapidly changing business landscape and opens up opportunities for growth and expansion . With the current global supply chain crisis , it ’ s crucial for companies to reassess their operations in order to navigate supply chain issues .
Since the COVID-19 pandemic , many industries , particularly the manufacturing industry , have had to urgently recognize the necessity of adopting effective risk management and mitigation strategies , due to how fragile their lines of production have become . One solution is the adoption of
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