A term that’s being thrown around a lot right now, resilience is the capacity to recover quickly from difficulties. Applied in the supply chain realm, resilience means being prepared for the unexpected, and responding to and recovering from potential risks quickly.
The global pandemic and the subsequent supply chain challenges forced a lot of organizations to come to terms with their low levels of supply chain resilience. “The COVID-19 crisis has exposed massive vulnerabilities in the global supply chain,” DigitalCommerce360 points out. “It has also shed light on the need for organizations to have complete visibility into their business spend and more agility in the procurement process.”
