EARTHQUAKES What is earthquake? • the result of a sudden release of energy in the Earth's crust that creates seismic waves. • the earthquakes are measured by magnitudes • caused mostly by rupture of geological faults, but also by other events • such as volcanic activity, landslides, mine blasts, and nuclear tests • earthquakes manifest themselves by shaking and sometimes displacement of the ground Japan earthquake 2011 • 9.03 magnitude undersea megathrust earthquake • Triggered powerful tsunami waves • After the World War ll the most difficult crisis for Japan Luzon earthquake 1990 • 7.8 magnitude earthquake in Philippines
In this way all the parties in the supply chain work to the same information and reduce their dependency on the forecast. At the same time opportunities for postponing the final configuration of finished inventory should be investigated. The aim of the global supply chain should be to carry inventory in a generic form, i.e. standard semi- finished products awaiting final assembly or localisation. Managing the global supply chain requires a level of agility and responsiveness several magnitudes greater than that required in the old model of 'local for local' manufacturing. Emphasis will increasingly have to be placed on creating a business model that recognises that competitive advantage is created through the management of the supply chain as a single entity rather than through fragmented, locally-focused decision making units. For the foreseeable future leadership in global markets will belong to those organisations that exhibit greater agility than their competitors.
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