Not all of the following steps are exclusive, but they can each represent a chance to take a problem seriously:
1: Establish continuous IT
Supply Chain Dive said this was a way to help address possible risks in the future. Supply chain monitoring systems will likely need increasing amounts of connectivity, with the infrastructure to support them. When disruption seems imminent, the company could try to improve its IT capabilities to meet the latest software and hardware requirements.
One of the big problems, the source said, comes when entities avoid addressing disruptions. Establishing a culture of resilience could set the precedent that the company is going to take these risks seriously. Managed IT services may also play a role in keeping IT choices consistent for compatibility and security, since they help combine these into a single source.
2: Plan for disruption and react quickly
Assuming your operation will have to change can be a good first step, so the actual disruption isn't as surprising. An oncoming challenge can prompt a business to take action and redirect resources to where they are most needed.
For example, last year the Business Interruption In Focus report from Allianz ranked "fire and explosion" as one the highest cause of business interruption loss for energy claims, making up 71 percent of all causes by value and 42 percent of the total number of claims.
Knowing this, businesses in the energy sector could assume that a certain amount of their operations will run into fire-induced problems and have a plan in place to recover. Another method of doing this is to adopt the means of a competitor to stay relevant in a changing environment.
3: Encourage transparency
Risk management can mean running a company that keeps processes and production visible as a kind of preventative measure. That way, before anything actually happens, there is clear accountability and accurate information at the ready. This isn't even to mention the disruptions that directly come from obscure supply chain practices and convoluted sourcing.
A different example of this is seen in the food industry. This is a sector with a lot to lose from recalls and product contamination, as Food Safety Magazine pointed out. A potential remedy derives from transparency, enabling companies to identify problem areas and treat them accordingly from the start.
Compliance with laws and effective transparency can go hand in hand. With food production, the Food Safety Modernization Act has established a standard for visible supply processes, and a path to proper structure could use this legislation as a framework for further visibility processes when there's food in transit.
Procurement management can be at the beginning of the supply chain, but it will just set the tone for everything that follows. With all of these strategies, the key is putting more thought into supply processes for better results.