Our interconnected global economy offers significant supply chain benefits but also presents considerable risks. Disruptions, whether a natural disaster, cyber attack or geopolitical event, can severely harm your company’s reputation and profitability. As these threats grow in frequency and complexity, reactivity is no longer sufficient. Proactive supply chain risk management is essential to safeguard your organization.
Complex & Growing Supply Chain Risks
A single cyber attack or software vulnerability can halt entire supply chains, as evidenced by the Colonial Pipeline ransomware attack which disrupted fuel supply to the entire U.S. East Coast for six days, causing widespread shortages and economic impact. Geopolitical instability, such as the U.S.-China trade conflict and Russia’s invasion of Ukraine, further complicated supply chains through trade barriers and delays. Additionally, climate-related events like hurricanes, floods and wildfires have heightened infrastructure challenges, which led to global economic losses of $280 billion in 2023, according to the Swiss Re Institute. As only 40% of these losses were covered by insurance, these growing obstacles…
