The scale of this current virus crisis is ever-increasing and constantly evolving. We may not have yet reached its peak detrimental impact given the enormity of its possible negative effects in several facets of our modern society. There will definitely be a string of disruptions in every business’ operations, of which the hardest hit would be its supply chain.
The best response, therefore, is to be ready before such a crisis hits – whether it be the same in a heavier degree or a totally new one. Options become more limited when a disruption arising from a crisis is in full swing. There are measures that can be taken now even if one’s business is not fully prepared.
Thus, you should gain lessons about how you can better prepare your company to deal with future large-scale crises.
We are LEADS Resources, a training and consulting provider in the area of Leadership & Management of Human Resources, Business Processes & Supply Chains. Check out our website for more information on Supply Chain Management at https://leadsresources.com/
ORIGINAL ARTICLE: https://hbr.org/