Politics of risk and response

To say nobody saw the pandemic coming is not quite true. In hindsight, questions should be asked about
the quality of scenario planning and effectiveness of disaster preparedness, on the part of major companies, organisations and governments.

Broadly speaking, the coronavirus outbreak could have been foreseen, but was not, says Dr Jens Roehrich, professor of supply chain innovation at the University of Bath School of Management. “COVID-19 could be classified as a knowable unknown unknown. Many organisations and governments were warned and
aware of the catastrophic impact of
a possible major global pandemic. However, the situation was considered either too improbable or expensive, or both,” he says.

It is a matter of risk. Risk is a factor in business, also in politics. According to Roehrich, when it comes to resilience planning, politics now plays a greater role than ever: “Reshoring, bringing production or parts of the supply chain back to a home country, is not just a quality concern, but also a criticality concern,” he says. “How critical is the item and the capability to produce it within your national boundary for the safety and wellbeing of a population?”

Please find the full article on page 5 in the Raconteur

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