Summary of Single Point of Failure

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Rating

8 Overall

8 Applicability

7 Innovation

7 Style


Recommendation

The captain of the Titanic ignored at least five warnings that unusual conditions in the Gulf Stream made it dangerous to steam at high speeds through the North Atlantic – if only he had paid attention. CEOs usually don’t seek or receive advance alerts of the looming icebergs that could affect their supply chains, the interconnected links that enable companies to move raw materials to production facilities and thence to customers. Now, you can be prepared, thanks to supply chain risk management expert Gary S. Lynch, who details the 10 best ways to manage and mitigate supply chain risk. getAbstract recommends his insights – despite a peppering of jargon – to executives handling all aspects of corporate life, including risk, manufacturing, compliance, operations, logistics, outsourcing, procurement and security.

In this summary, you will learn

  • Why supply chain risk management is so important and
  • How to use 10 best practices to handle it most effectively.
 

About the Author

Gary S. Lynch, author of At Your Own Risk, leads Marsh Risk Consulting’s Supply Chain Risk Management Practice and directs its Global Pandemic Response Center.

 

Summary

“The Laws of the Laws”

All companies, no matter their industries, products or locations, are members of complex, convoluted and interconnected supply chains. Any unexpected event – a labor strike, a hurricane, a product recall, a commodities price hike, a power failure, a biochemical disaster, a political revolution – that harms any link of a supply chain can have a devastating effect on all the other links, including those that most people would never imagine are connected.


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