Supply chains are the backbone of every business—delivering the materials and products that keep operations running and customers happy. But with disruptions becoming more frequent and unpredictable, businesses of all sizes are feeling the strain.
To stay competitive and secure, companies must strengthen their supply chains to handle unexpected challenges, from shipping delays to supplier shutdowns. A resilient supply chain isn’t just a safeguard—it’s a key to thriving in uncertain times.
Building a resilient supply chain is essential for managing disruptions and ensuring long-term growth and operational resilience. By addressing product and jurisdictional risks, leveraging technology, and integrating supply chain management into your overall risk framework, you can create a foundation for sustainable growth.
Step 1: Assess
and prioritize risks
Example: A mid-sized company classifies single-source overseas suppliers as high-risk within their ERM framework and prioritizes finding secondary suppliers.
Step 2: Enhance visibility
and leverage technology
Example: A company integrates supply chain metrics into board reviews and uses predictive analytics to mitigate risks from global trade disputes.
Step 3: Build internal
alignment and resilience
Example: A leadership team discusses supply chain risks quarterly, alongside financial and operational risks, ensuring alignment with business strategies.
Step 4: Strengthen supplier
relationships and diversify options
Example: A company sourcing a key component from a high-risk region ensures its backup supplier is in a more stable location.
Step 5: Plan for scalable,
long-term improvements
Example: A company sourcing specialized electronic components from a region prone to natural disasters invests in supply chain mapping tools to identify hidden dependencies. They then secure a secondary supplier in a more stable region, ensuring continuity if disruptions occur.
Key Takeaways
The information in this publication is current as of Jan. 27, 2025.
This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact BDO Canada LLP to discuss these matters in the context of your particular circumstances. BDO Canada LLP, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.