Question
Examine the impact of Global Supply Chain risks. Discuss how a retailer can build a "Resilient Supply Chain" to handle unexpected disruptions like natural disasters, trade wars, or shipping lane blockages. Provide strategies for risk mitigation.
Answer :
Word Count : 418
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Skip in 10
Global supply chain risks have become increasingly significant in the retail sector due to the interconnectedness of markets and reliance on international suppliers. Disruptions such as natural disasters, trade wars, pandemics, or shipping lane blockages can cause delays in product availability, increase costs, and impact customer satisfaction. Retailers face challenges in forecasting demand, maintaining inventory levels, and ensuring timely delivery of goods, all of which can directly affect their competitiveness and profitability. Supply chain vulnerabilities can arise from overdependence on single suppliers, limited logistics options, geopolitical tensions, and fluctuations in currency and fuel prices. These risks emphasize the need for proactive management strategies to maintain operational continuity and customer trust. To build a resilient supply chain, retailers must adopt a multi-dimensional approach focusing on flexibility, visibility, and collaboration. Diversifying suppliers
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