Video: Building a Resilient Supply Chain
While previous research in supply chain management emphasizes the importance of building a resilient supply chain, there is little guidance or specific strategies available to companies on how to improve resiliency, while maintaining the costs involved in doing so.
Christopher Craighead, Michael H. and Laura L. Rothkopf Early Career Professor of Supply Chain & Information Systems, and coauthors Kaitlin Dunn, a Ph.D. student in Supply Chain and Information Systems at Smeal, and Jennifer Blackhurst of Iowa State University examine a multi-industry sample of supply chains and their response to disruptive events in order to develop a systematic investigation of their resiliency.
In the video above, Craighead discusses the findings of their study. He notes how the results provide a basis for managers to classify their supply chain and its level of resiliency. This "scorecard," as Craighead describes it, helps managers to prioritize areas where additional resources should be invested to improve overall network strength.
Their study, titled "An Empirically Derived Framework of Global Supply Resiliency," was recently published in the Journal of Business Logistics.