The Department for Business and Trade (DBT) has developed a resilience framework which highlights 5 areas to explore when building resilience in supply chains.
It is designed to be an aide for those looking to mitigate supply side risks in their supply chains and to support greater long-term resilience. More detailed guidance for businesses is also available.
The 5 areas are as follows:
- Diversification – identify alternate source of supply to create flexibility in the supply chain
- International partnerships – work with international partners to identify common challenges, bring down barriers to trade and strengthen the resilience of international supply chains and systems
- Stockpiling and surge capacity – identify whether it may be beneficial to hold stocks and strategic reserves of components or goods and consider whether surge capacity can be included in contracts
- Onshoring – identify whether increasing or expanding domestic capacity might be helpful in reducing risks
- Demand management – identify whether it may be beneficial to manage the demand for components or goods, considering substitutes and alternatives, innovation, and circularity
For more information, please visit: Supply chain resilience – GOV.UK (www.gov.uk)