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Member, Beacon International Group, Ltd.
The World Economic Forum, in its report titled 'Building Resilience in Supply Chains,' has called for the establishment of an international body that will develop and implement a global risk assessment for supply chains, reports Supply Management.
The report listed four key factors to reduce the risk of supply chain disruption; a policy to create the new international organization; information technology to use and expand data sharing platforms; a strategy to develop adaptable approaches to resilience; and partnership to harmonize global resilience standards.
The report also called for mobilization international standards bodies and encourage businesses worldwide to adopt supply chain resilience standards.