Part 2/8:

One of the key lessons from the pandemic is the importance of diversifying supply sources. Relying on a single supplier or a concentrated geographical region can create significant risks. Instead, businesses are encouraged to establish multiple, regional, or local sourcing options to mitigate potential disruptions.

In manufacturing, where components come from various parts of the world, diversification extends to multiple suppliers within different regions. For example, some companies have begun shifting parts of their supply chain from China to the ASEAN region, aiming to reduce dependency on a single supply hub. This approach ensures that natural disasters such as floods in Thailand or the Japanese tsunami—events beyond predictive control—don't cripple the entire production process.