The complexity of modern supply chains means that businesses are struggling to stay on top of the risks that may be hidden in the chain. So let’s look at three of the most significant current risks and what businesses can do to assess and mitigate them.
Disruptive weather patterns seem to be an increasingly common phenomenon. Part of the mitigation will involve taking the chain apart and looking at weather-related threats to each part of it.
This is particularly the case where the supply chain is multinational and stretches across continents that are subject to hurricanes, floods or other events. But contingent natural events, such as volcanic eruptions close to depots, should be considered too.
And as summer 2018 has shown, extreme weather can arrive in the guise of an unusually hot dry summer. The Guardian reported in June that food-grade carbon dioxide, for fizzy …