How to limit the impact COVID-19 and other future events in your Supply Chain — Ikaros Consultancy

I write this post at a time where many of the worlds Supply Chains are in disarray. COVID-19, the newest strain of Coronavirus that is tearing through every continent on the globe is causing businesses to close which has led to massive and unprecedented disruption to modern global supply chains.

Most of the world does Business with China and has done for 30–40 years and this has led to China becoming one of the biggest global economic superpowers. However, as the COVID-19 outbreak originated in China, most plants and manufacturers have been forced to shut down for the foreseeable future to prevent the spread. The rest of the world has followed suit.

So, what can you practically do to limit the impact of COVID-19 and future scenarios that are out of your control.

Here are some activities you should now incorporate into your every day business management. You must surely understand that your Supply Chains is one of, of the biggest asset to your business. That means it requires time, resources and effort to maintain and to build robust provisions to protect it.

Here is what we, at Ikaros Consultancy, advise you to do now, always and forever:

• Highlight your highest risk lines of…