by Vivek Sood

September 19, 2018

If you are in Australia, it is more than likely that you already know this saga. If you are not in Australia, or do not follow the news cycle, take a look at the video below:

This happens all too often. Once every few months, in some part of the world, a crisis of similar nature emerges.

Several years ago it was this:

I could keep finding a lot of similar videos about products and places – but you get the point. And, it is a not a new problem either. Take a look at this story from over 3 decades ago:

The point is that the lack of supply chain security hurts the company, the industry and the economy significantly.

Some band-aid solutions are rolled out – mostly to restore public confidence and get the demand up again. However, a comprehensive supply chain security regime is never put in place.

Having done large scale supply chain transformation projects for companies as sensitive as explosives, chemicals, fertilizers, food stuff, soft commodities, bakeries, meat, dairy, livestocks, and many others, we have seen both – the vulnerabilities and some really cutting edge supply chain security in practice.

Unfortunately, supply chain security, in conceptualisation and training, has not kept paced. There is no university course that covers this topic sufficiently. Conferences skirt this topic. Books cover it sketchily. Regulatory framework is patchy and officious.

And after complying with the regulatory burden most people relax in the belief that they have done enough.

In fact they have no basis to go beyond regulatory requirements, lest they are accused of being paranoid or overzealous about security.

Yet, dozens of incidents have demonstrated that regulatory framework is never enough. Each company has to develop its own supply chain security framework, based on its own particular circumstances. Even compliance with insurance requirements is not enough. Reputation damage to your business is a non-insurable loss in most cases.

How do you develop your own supply chain security framework?

Complying with regulatory and insurance requirements is a good start. You also need a more robust, holistic and comprehensive supply chain security framework that provides the guidelines for your own company’s supply chain security model.

Our report titled  SUPPLY CHAIN SECURITY – A COMPREHENSIVE, HOLISTIC FRAMEWORK provides the information to get you started.

Better still – run a one day workshop based on the content of the report. It will be the best 20K your company ever spent.

 


Copyright - These concepts, frameworks and ideas are copyright of GLOBAL SUPPLY CHAIN GROUP from the time of their creation. Do NOT copy these without permission and proper attribution. These ideas and concepts will be usually expressed by our thought leaders in multiple forums - conferences, speeches, books, reports, workshops, videos and training. The date shown above the article refers to the day when this website was last reformatted. This blog post or article may have been written anytime prior to that date. All anecdotes are based on true stories to highlight the key points of the article - some details are changed to protect identification of the parties involved. 

Vivek Sood

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    • The report mentioned in the blogpost above answers this question is quite a bit of detail. If you want synopsis of the report – send me an email.

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