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The International Journal of Logistics Management, 21 2 , Supply chain risk management: outlining an agenda for future research. Supply chain resilience in the global financial crisis: an empirical study. Kern, D. Supply risk management: model development and empirical analysis. Khan, O. Risk and supply chain management: creating a research agenda.
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Global supply chain risk management strategies
For low-volume products with high demand uncertainty typically high margin , companies can keep supply chains flexible and responsive, with capacity that is centralised to aggregate demand. This is the approach apparel maker Zara takes for instance. Grainger, which distributes industrial supplies to businesses, offers another example of reducing risk by segmenting the supply chain: it keeps its fastest moving products at the stores and at nine distribution centres and its slower moving items are warehoused at a single distribution centre in Chicago.
This segmentation improves resilience by isolating the impact of disruptions and creating supply backups while keeping transportation costs low for the fast moving items and inventory costs low for the slow moving ones. Even for the same product, managers should consider treating the more as well as the less predictable aspects of demand separately. The predictable base load of demand is best served from a low-cost source often in a low-cost country while the unpredictable portion of demand is best fulfilled from a responsive, local source. Having these two complementary sources of supply reduces both the overall cost as well as the impact of disruption risk from a single production facility.
Products evolve over time in response to product life cycles or the company may be introducing some products in a new market.