Logistics & Supply Chain

May 15th, 2015
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Contingency planning is strategically oriented plan of an organization to face any unexpected events with minimized negative impacts to the organization itself and related entities and stakeholders.

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Logistics & Supply ChainWhat is Supply chain Contingency Planning?Contingency planning is strategically oriented plan of an organization to face any unexpectedevents with minimized negative impacts to the organization itself and related entities andstakeholders. Contingency Planning is an overlapped proportion of risk management. Acompany spends time, money and resources to formulate a plan to respond to an emergencyevent [IFRC (2014)].All production houses, manufacturers and distributors are affected largely by events likehurricanes, earthquakes, floods, political turmoil, fire burnings, inflation or deflation and stockexchange. Supply chain Contingency planning benefits these producers and manufacturers intheir supply chain management system. In case of any mishap due to any unexpected happening,contingency planning plays a role and minimizes the losses due to the specific event [IFRC(2014)].Steps to improve Supply Chain ResiliencyIdentifying unexpected events:An organization must start their contingency planning by identifying threats and possible losses.Because without understanding the types of situations a company may suffer, it would be harderto construct a strategy against it. The organization must start from listing down all types ofthreats and prioritize it accordingly. For example, any company in northern areas where roads getblocked during the winter season due to heavy snowfall, that company would prioritize the roadblockage due to snowfall

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