Undertake scenario planning
Ask how risk management will affect profitability
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Undertake scenario planning
Nobody has a crystal ball to see into the future . Plan for the unexpected – when the unexpected happens how would you respond ? Understanding where you stand and what your options are if a crucial supply input becomes suddenly much more difficult to procure may be an important exercise to undertake now .
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Ask how risk management will affect profitability
Moving supply chains nearer home may have an impact on your costs . Find out what the impact might be , then brace yourself by cost cutting or redesigning products where you can . Decoupling globalised markets may reduce opportunities by challenging predictable quarterly growth , stable prices , access to cheap capital , and global access to a mobile skilled workforce .
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