Overview
Economic analysis of supply chain disruptions is crucial for understanding how interruptions affect businesses and the economy. Disruptions can arise from various sources, including natural disasters, technological failures, and human actions, leading to increased costs and production delays. Compan...
Key Terms
Example: The supply chain for a smartphone includes raw material suppliers, manufacturers, and retailers.
Example: A natural disaster causing factory closures is a disruption.
Example: A resilient supply chain can quickly adapt to changes in demand.
Example: Logistics involves managing the transportation of goods from suppliers to customers.
Example: Effective inventory management ensures that a company has the right amount of stock at the right time.
Example: A sudden shortage of a product can lead to price increases.