Promoting resilience and preparedness in supply chains

Bublu Thakur-Weigold and Sébastien Miroudot

No 286, OECD Trade Policy Papers from OECD Publishing

Abstract: This working paper contributes to the debate on effective solutions for assuring the resilience of critical global supply chains by undertaking a review of both the supply chain management literature and recent actions by firms and governments. The report highlights that when pursuing the resilience of global supply chains, policy should focus on the performance of the system as a whole and not target a single objective, such as security of supply. In addition, resilience strategies should be segmented to address two distinct categories of risks: business-as-usual disruptions that can be mitigated by standard risk management practices of firms and unforeseen extreme disruptions where the role of governments is crucial as facilitators and providers of emergency resources. Effective interventions include reducing logistics frictions, regulatory co-operation and flexibility, and fostering an industrial commons for emergency preparedness. Regular preparedness conferences would enable public-private stakeholders to co-ordinate responses to future crises.

Keywords: Global supply chains; Risk management (search for similar items in EconPapers)
JEL-codes: D81 F23 F63 H12 L23 (search for similar items in EconPapers)
Date: 2024-11-28
New Economics Papers: this item is included in nep-ind, nep-int and nep-rmg
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Persistent link: https://EconPapers.repec.org/RePEc:oec:traaab:286-en

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