How are you dealing with the risk of supply chain insolvency?

The most significant risks contractors have faced over the past 6-9 months have been cost inflation alongside non availability of resources.
One of the rapidly emerging consequences of this is supply chain insolvency risk and it comes hard on the heels of a market already enduring increased insolvencies arising off the back of the Covid-19 pandemic.
Insolvencies are increasing by the day and it will get worse before it gets better. Hardly anyone is immune.
Having a selective and closely managed supply chain is all well and good but what other specific measures should you take to protect yourselves?