Resilinc 2018 Annual Report: The Manufacturing Industry and Its Risks (Coursework Sample)

Resilinc 2018 Annual Report: The Manufacturing Industry and Its Risks Student’s Name Department, Institution Course Name Professor Date of Submission Resilinc 2018 Annual Report: The Manufacturing Industry and Its Risks Resilinc is a cloud service company that uses artificial intelligence and machine learning to monitor and analyze data from the internet such as social media platforms and the news. In 2018, the firm published its annual report on supply chain disruption and challenges. The report indicated that the level of supply chain disruption had increased drastically compared to the previous years. The interference of the supply chains affected different industries, such as the manufacturing industry, the food and beverage industry, and the technology industry. The manufacturing industry was affected the most, accounting for more than 65% of all the events reported (Behrens, 2019). The supply chains of manufacturing industry in 2018 were exposed to specific risks, such as fires, which required certain strategies, such as comprehensive analysis, to be adopted to counter these problems. The manufacturing industry supply chain experienced certain risks in 2018, including fires and explosions, trade wars and strict tariffs, and adverse weather conditions, as reported by Resilinc in its annual report. Firstly, fires and explosions mostly affected the manufacturing industry causing damage to the supply chains. Many assets such as vehicles and equipment, goods, and buildings were destroyed by fire. Secondly, trade wars and strict tariffs led to the disruption of the supply chains. Unstable political relation between the United States and China established a harsh trade climate. These tough conditions resulted in development of more strict trade tariffs between the two countries than in the previous years, leading to disruption of key supply chains. In addition, Brexit caused a trade war between Britain and the European Union countries, inflicting economic uncertainty between the two parties. These economical decisions by Britain resulted in interference of manufacturing supply chains in the region. Thirdly, weather was a major factor in the disruption of the supply chains. The presence of bad weather conditions, such as cyclones and thunderstorms, led to the disorganization of supply chains around the world. For example, the Bomb Cyclone in the United States affected over 9000 sites (Behrens, 2019). These uncertainties affected the supply chains of the manufacturing industry, leading to the deceleration of trade between countries. The risks and uncertainties can be averted or the impacts reduced by use of specific strategies, including fire safety precautions and extensive analysis. Observation of fire precautions can be applied to counter frequent occurrence of fires. The installation of fire extinguishers should also be encouraged. This strategy is exclusively applicable in incidents in which the fire leads to the destruction of assets. The second strategy suggests that manufacturing firms conduct thorough research and analysis involving such events as the w...