Webinar: COVID-19 and Risk Mitigation Strategies
This free webinar on ‘COVID-19 and Risk Mitigation Strategies’ will allow you to discuss and interact with experts from Durham and the following partner organisations: CBI (Confederation of British Industry), CPI (Centre for Process Innovation), FSB (Federation of Small Business) and the Materials Processing Institute.
Supply Chains are global and complex interconnected networks, where the impact on one part of this network can cause huge disruptions across the entire supply chain network.
These Global value chains (GVCs) have allowed companies to spread their operations across trade corridors and benefit from global markets. Both transnational corporations (TNCs) and Small and medium-sized enterprises (SMEs) have benefited from the liberalisation of trade and investment, lower transport costs, advances in information and communication technology, international outsourcing and innovations in logistics (e.g. Radio Frequency Identification). For example, the total value of international goods exports from the North East of England is around £12 billion per year, equivalent to just over 26 per cent of the region’s GVA (Gross Value Added).
While the benefits of this GVCs have allowed companies to minimise costs, reduce bottlenecks, drive asset utilisation and operate just-in-time models, the intensity of a sudden external shock (like Covid19) has exposed a number of vulnerabilities to their supply chains. Company leaders are asking questions like “How can we transform our supply chains so they are not only resilient to internal and external shocks but also innovative and competitive in a digital world?”
Researchers at Durham University Business School have examined the data of 1,739,669 UK companies and argue that companies can adopt a number of strategies like improving managerial decision-making capability, enabling end-to-end visibility, increasing collaboration to connect supply chains and leveraging advanced technologies such as the Artificial Intelligence (AI) to be resilient and innovative.
Date: 7th May at 2.00pm
Agenda
14.00 – 14.20: Welcome and COVID-19 and Risk Mitigation Strategies
14.20 – 14.50: Panel discussion
14.50 – 15.00: Support mechanisms
Panel Members (Chair – Professor Kiran Fernandes)
Durham – Dr Atanu Chaudhuri and Dr Manish Shukla
CBI – Ali Westwood (Deputy Regional Director)
CPI – Alan McClelland
FSB – Simon Hanson (Development Manager)
Materials Processing Institute – Chris McDonald (CEO)
30 April 2020
