Of course, it’s not a given that this scenario will occur. But the hypothetical is a good demonstration of how a resilient supply chain is essential to the resilience of a company. What are you doing to make sure you’re staying on top of all the potential events that might disrupt your business—especially the ones you might not even realize are brewing in the background?
You Can See the Ripples Coming
If you’re just waiting to hear about a supply chain disruption once it happens, you’re not being proactive enough. In fact, the Boeing grounding is an especially relevant example of this; the current length of backorders is so long that the effects of a massive cancelation of Boeing crafts wouldn’t hit suppliers for years down the road.
But if you’ve got an eye on the suppliers it might affect and know that one of them is yours, you can monitor them for any predictive warnings about insolvency or other problems—massive layoffs and major ownership structure changes, for example, are often indicators of larger financial problems coming down the road. (Actually, company viability is one of the top supply chain risks facing companies these days.)
No matter what happens, I have a feeling our Risk Intelligence is going to be watching this event for quite a while.