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Can your supply chain handle Grey Swan events?
The current pandemic is described by many as a Black Swan event, which occurs rarely and is difficult to plan for. Since a black swan event appears too overwhelming to even consider developing capabilities for, most supply chain teams end up taking no systemic action to improve the agility of their supply chain.
The reality is not so black and white. There are many Grey Swan events faced by the supply chain from time to time. These could be disruptions due to natural calamities, semiconductor chip shortage, port congestion, transporter strikes, etc. Each of these grey swan events requires higher levels of agility to succeed and supply chain professionals will do well to improve their supply chain agility on an ongoing basis.
There are all shades of grey in real life. If we develop capabilities to tackle light grey swan events, we should move to darker grey swans and eventually be ready to tackle a black swan event.
Process of Ongoing Improvement (POOGI) helps us in taking the right steps in this direction.