Understanding Risk Management of Supply Chain for Risk Mitigation and Risk Recovery during COVID-19

Abstract

This paper examines the various threats of supply chain and level of intensity of these threats. In present era, the most common threats of supply chain are natural disaster, cyber-crime, pandemics and blockage of roads due to strike, protest etc. Among all of these threats COVID-19 pandemic become a major problem for global supply chain. This pandemic effecting the advance and under develop economies in the world. The number of economies crash, and many businesses shut down due to this pandemic. Nobody knows about the future of world economy. Now, after analysis the current situation and read many articles; we found that if all major and minor channels of supply chain join together, in order to make smooth supply of grocery and medical, then situation can be controlled. It’s not only beneficial for supply chain, but the society also. The supplier should alter the current model of their businesses and make a new model under the light of current situation in order to protect their businesses and societies.