Supply Chain Insights recently conducted a survey with the objective to understand the “current and expected future state of supply chain risk management, the biggest drivers of risk, and the impact on supply chain disruptions.”
While nearly two-thirds of respondents believe their company performs better today on risk management practices than five years ago, they still had 3.5 disruptions last year on average. According to the report, “Managing risk requires a network approach. Today’s investments in an end-to-end supply chain are, by and large, not effective in risk mitigation.” In fact, only 37% have visibility of extended-tier suppliers and most lack the solutions to manage global complexity.
In line with a recent Task Force 7 Radio interview with Chuck Brooks, Principal Market Growth Strategist for General Dynamics Mission Systems for Cyber Security, noted how new technologies such as IoT, ML or AI also bring along new risks. For example, there is no security built into these new devices (such as IoT devices), which makes it difficult to protect. In turn can affect the full supply chain “as you have connectivity through the supply…
