Diversification of Suppliers: Reduce dependency on a single source of supply by diversifying its supplier base. Philips should identify alternative suppliers for critical components and materials, preferably from different geographic regions, to mitigate the risk of disruptions caused by localized events such as natural disasters, political instability, or public health emergencies. Supplier Relationship Management: Strengthen relationships with key suppliers through collaborative partnerships and long-term agreements. By fostering closer ties with suppliers, Philips can improve communication, transparency, and cooperation, facilitating better coordination during times of crisis and enabling proactive risk management. Supply Chain Visibility and Transparency: Invest in technologies and systems that provide real-time visibility and transparency across the supply chain. Enhanced visibility into supplier operations, inventory levels, and transportation networks will enable Philips to identify potential disruptions early, proactively respond to changes, and make informed decisions to minimize the impact on production and delivery schedules. Risk Assessment and Contingency Planning: Conduct comprehensive risk assessments to identify potential vulnerabilities and disruptions in the supply chain. Philips should develop robust contingency plans and risk mitigation strategies tailored to specific scenarios, including pandemics, geopolitical tensions, and natural disasters. These plans should outline alternative sourcing options, inventory management strategies, and crisis response protocols to