Answer -3

a) Difference between the supply chain risk and supply chain resilience
Supply chain risk
Supply chain risk management is the process of identifying, analysing, and managing risks in
an organization's supply chain (SCRM). Using international supply chain risk management
solutions might help a business function more efficiently, save money, and improve customer
service.

Risks to the internal supply chain include those induced by:

 Operational problems at the company
 All of the company's management, workers, and operations have been restructured.
 Not having any backup plans in case anything goes wrong
 Not putting in place enough cybersecurity rules and procedures to defend against
cyberattacks and data leaks
 Not adhering to environmental or labour norms
 Not having enough inventory to fulfil client demands.

Risks to the external supply chain include those induced by:

 Uncertainty or misinterpretation of customer desire
 Disruptions in the flow of products, such as raw resources, components, and finished
goods
 Issues such as social, governmental, and economic factors, as well as the danger of
terrorism, all have a role.
 Concerns about a supplier's physical facilities and regulatory compliance are part of
supplier risk management.
 Earthquakes, hurricanes, and tornadoes are examples of natural disasters.

Supply chain resilience

A supply chain's resilience is measured by its ability to withstand and recover from adversity.
What this implies is the ability to deal with the consequences of a supply chain interruption
and recover rapidly. Risk and interruption to operations may be found throughout the supply
chain. Supply chain logistics, distributors, and workforces may be affected by worldwide
catastrophes, such as COVID-19. Unanticipated competition, unexpected market movements,
or even abrupt changes in client buying habits may trigger supply chain disruptions. To
ensure efficient supply chain management, companies must have flexible backup plans and
the capacity to react rapidly in the event of an interruption in normal operations. To be
genuinely robust, a supply chain, on the other hand, has to be able to anticipate and prevent
disturbances.

b) Covid 19 Pandemic impact on the Supply chain resilience

Disruption was felt by all consumer goods firms. Sanitizer and toilet paper, among other
necessities, sold out in one week at Tesco. Several FMCG firms saw a decline in sales in
March 2020, with some even reporting zero revenue. The supply chain was thrown off course
by changes in customer demand, such as large orders. Findings show that 69 percent of
retailers and 66% of consumer goods firms struggle with demand planning because of
inaccurate and outdated information on changeable client demand. In order to save money
and increase efficiency, firms have been lowering the amount of sourcing duplication for
years. Supply chain "resilience" was displayed by Tesco despite the truck driver shortages,
according to the supermarket company. To prepare for the upcoming Christmas season,
Tesco plans to hire 30,000 new employees, with 15,000 already hired despite the well-
publicized labour shortage.

Supply networks will continue to confront a number of important obstacles for the
organization as the global economy recovers from the epidemic:

 The number and variety of product portfolios and services provided has increased
dramatically.
 The networks of production and distribution have gotten increasingly complicated.
 As a consequence of external pressures, restrictions and trade obstacles have
increased.
 As service expectations have increased, customer segments have grown more
variable.
 A diverse group of stakeholders is urging action to boost sustainability.

Tesco's supply chain and supplier relationships have once again proven to be a crucial asset
in the face of a variety of issues presently facing the sector. In June, the firm acknowledged
that it was affected by the nationwide scarcity of HGV drivers. Experts in the business,
however, believe that robust competition in the market will keep prices from rising too
quickly. In a statement, Tesco said it will concentrate on rewarding customer loyalty and
investment as a means of expanding its customer base. As a result of the industry's supply
chain disruption, Tesco, the UK's biggest retailer, has claimed a twofold increase in first-half
earnings and upped its full-year projection.