What Are the Solutions to Mitigate These Disruptions?
To mitigate these disruptions, companies can adopt several strategies. Diversifying suppliers is critical; relying on a single supplier can be risky. Investing in localized production facilities can also help. Additionally, maintaining strategic reserves of critical materials and components can provide a buffer against short-term disruptions. Implementing advanced supply chain management technologies, such as blockchain and AI, can offer real-time monitoring and predictive capabilities.
