When it comes to intelligently managing today╒s supply chains, a quick scan of recent headlines underscores just how hard it is becoming to stay in front of global developments. The earthquakes in Haiti and Chile, an outbreak of flu, or last month╒s electric power interruption on the East Coast of the United States that persisted in parts of New York and Massachusetts for nearly a week all point to risks that manufacturers have to deal with on an almost daily basis.
But natural disasters are only one element in the supply chain risk management equation. Add in supplier insolvencies, labor strikes, and part shortages, to name just a few other factors, and what you have is an increasingly complex supply chain scenario for any manufacturing company to manage.