Supply Chain Focus in the Midst of a Global Pandemic for Critical Medical Equipment and Supplies

Abstract

Enterprise risk management is best employed when organizations understand that risk is always real and most certainly always present. In so much, natural disasters, acts of God, unanticipated actions or developments can harm reputational risks; even uncertain business ventures can cause turmoil on an organization. For example, for a given sector of an organization, namely supply chain, a global pandemic could threaten business continuity as a sudden surge in demand for critical medical supplies will most likely not be able to be met as available inventory is often exhausted quickly. In an enterprise risk management approach, an organization's supply chain business unit should have a comprehensive plan in place for this type of situation to ensure back-up catalogue offerings or additional suppliers that could be activated to manufacture greater volumes and be able to quickly ramp-up production to meet the new consumer purchasing behavior.