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Summer Journal

Volume 27, Issue 3

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Lessons Observed vs. Lessons Learned

Written by  BETTY A. KILDOW, CBCP, FBCI January 9, 2012

Last year's devastating events in Japan were yet another reminder of the vulnerability of our business operations in general and most specifically our supply chains. While the full impact on organizations worldwide may never be known, there are lessons to be learned. It is a fortunate truth that few organizations will ever experience the combined direct impact of a black swan event like Japan's estimated 9.0 earthquake of March 11, 2011, the fourth largest in the world since 1900. This was the resulting domino effect with a sequence of multiple events occurring in a relatively short period of time … an earthquake, a tsunami, and nuclear power plant damage and shutdowns. Widely diverse industries including automotive, computers, electronic components, industrial equipment, steel, textiles, and processed foods felt the

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