Supply chain resilience and risk management strategies and methods

Abstract

Abstract. The changing global market due to Industry 4.0 and the recent pandemic effect has created a need for more responsiveness in an organization’s supply chain. Supply chain resilience offers the firm not only to avoid disruptions but also to withstand the losses due to a disruption. The objective of this research is to find out how resilience is defined so far in other literature and find out the strategies available to gain the resilience fit for an organization. First, in the literature review, the previous studies on resilience were studied to understand what supply chain resilience means. Then, the key results and findings are discussed and conclusions are presented. The research found some interesting strategies for gaining the resilience fit. The benefits and the stakeholders for each strategy are also pointed out. These strategies can be used according to the organization’s business strategy. These strategies aligned with the business strategy can make a huge difference to withstand potential disruption and gaining a competitive advantage against the market competitors