Development of a Resilience Assessment Model for Manufacturing Enterprises

Abstract

In today’s world, crises like the COVID-19 pandemic and ongoing global changes pose significant challenges for manufacturing companies. Resilience, the ability to withstand and recover from disruptions, is essential for survival. To make resilience actionable, the discussion introduces a four-step Circular Resilience Assessment Tool. To assess their resilience score, companies undergo a risk and vulnerability assessment, a qualitative resilience factor assessment, a suitable strategies identification phase, and a quantitative performance assessment. This tool guides companies in evaluating their resilience before, during, and after hypothetical or occurred crises. The balance among qualitative and quantitative aspects, encompassing technical, social, and organizational considerations, ensures that an omni comprehensive point of view is adopted in evaluating the overall resilience score of a company. This innovative approach empowers companies to not only survive crises but also to gain a competitive advantage and expand their market share in the long term. The work provides a thorough description of each of the four steps, accompanied by examples. The Circular Resilience Assessment Tool is designed to be as specific as necessary and as general as possible, thus making it a valuable resource for a variety of enterprises.