Risk management best practices in the consumer goods industry supply chain: Combating Disruption and volatility

Abstract

Globalization has made supply chains more complex, exposing organizations to a greater risk of disruptions. In the consumer goods industry, everyday household essentials are critical to people’s daily lives. Disruptions can directly affect millions of households and significantly impact organizational performance. This study examines supply chain risk management (SCRM) practices in the consumer goods industry to identify strategies that can strengthen supply chain resilience and agility amid disruption and volatility. Drawing on secondary analyses of case studies, academic journals, and industry research, this paper explores how supply chain leaders can better anticipate disruptions and mitigate their vulnerabilities by adopting best practices. The goal of this paper is to provide a framework for those leaders to increase operational continuity, maintain their consumers’ trust, and reduce the impact of disruptions and volatility.