Using ICT in Developing a Resilient Supply Chain Strategy

Supply chains in today's globalization are very vulnerable to risks such as natural disasters, terrorism, cyber attacks and credit crunch etc that could easily disrupt the flow of raw materials, finished products and information. Furthermore, these disruptions could yield to a drastic loss in productivity, competitive advantage and profitability that would most probably lead to bankruptcy if not managed appropriately. In fact, supply chain vulnerability is now a major concern in many organizations as some research programs have started to illustrate that modern supply chains are at greater risks than their supply chain managers could even recognise. The aim of this article is to analyse these risks and discuss how they could be prevented and/or managed. In addition, by implementing ICT in collaboration with certain strategies, a resilient supply chain could be developed. Moreover, in case any of these risks occur, the possibility for an organization to be able to bounce back and start operations in the shortest possible time is also considered.