We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2022
    • Upload Your Video
Home » Companies place growing emphasis on resilience

Companies place growing emphasis on resilience

Global supply chain disruptions cost large companies $184 million a year, on average, international survey shows.

chain-4049725_640.jpg
June 25, 2021
DC Velocity Staff
No Comments
Supply chain disruptions continue to cost companies big, especially in the wake of a turbulent 2020, according to an international survey of senior decision makers at large companies, released this week.

The Annual Global Supply Chain Report from supply chain risk management firm Interos polled 900 senior IT, IT security, and procurement leaders in the United States and Europe and found that supply chain disruptions cost large companies about $184 million a year on average. Trade disputes, cyber attacks, and the effects of the Covid-19 pandemic are among the biggest risks, according to survey respondents, all of whom work for companies with more than $1 billion in annual sales.

“Our survey results underscore the growing importance of supply chain operational resilience in the globally interconnected world that we all live and operate in,” Jennifer Bisceglie, Interos CEO, said in a statement announcing the findings. “We can no longer cleanly separate digital and physical supply chains, which is driving a need for greater transparency into hidden supply chain risks, relationships, and reliances, which companies are recognizing as critically important to protecting both the bottom line and corporate reputation.”

Among the findings, supply chain leaders said they continue to deal with disruption from the pandemic. Fifty-one percent of respondents said their supply chains have been affected by Covid-19-related issues, with 89% of those reporting disruptions to product lines and locations. Cyber attacks also ranked high, with more than three-quarters of respondents saying they encountered at least one such attack on their suppy chain in the last year. Trade issues are a concern as well, with 88% of respondents indicating that international trade disputes would cause “significant, notable, or moderate impacts” on their organization. The most common impacts include forced changes in production locations, disruption to banking/payment infrastructure, and increases in cyber espionage agains their business, among others.

In response to the volatile risk climate, respondents said they will develop a sharper focus on supply chain security and resilience. Half of respondents said security and resilience will be a top business priority in the next two years, up from 39% who said they are focused on those issues today; more than three-quarters (78%) of respondents said their company leaders meet to discuss the topic at least once a month.
Supply Chain Security Supply Chain Strategy
KEYWORDS Interos
  • Related Articles

    With a Two-Year Revenue Growth of 54.5%, Acquired Data Solutions Ranks No. 225 on Inc. Magazine’s List of the Fastest-Growing Private Companies in the D.C. Metro Region

    Roadie Ranks No. 203 on 2021 Inc. 5000 List of America’s Fastest-Growing Private Companies

    TPS LOGISTICS EARNS COVETED SPOT ON INC. 5000 LIST OF FASTEST-GROWING PRIVATE COMPANIES IN AMERICA

Recent Articles by DC Velocity Staff

The Rainmakers

BrightDrop delivers 150 electric parcel vans to FedEx network

Logility acquires supply chain modeling firm Starboard Solutions Corp.

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Private equity firm acquires packaging provider Coregistics in e-commerce bet

  • Packaging industry reprioritizes amid inflation, supply chain disruption

  • Warehousing's perfect storm

  • Raymond Corp. marks 100th anniversary

  • Investors see big value in basic wooden pallets

Now Playing on DCV-TV

E3f9e6d5 8bd4 40ca 8c7f 43aa63ea3fc9

Lessons from CSCMP’s Annual Report Card for Shippers and Carriers

DCV-TV 4: Viewer Contributed
Recently, the Council of Supply Chain Management Professionals (CSCMP) released their 33rd Annual State of Logistics Report which is created by AT Kearny. I've viewed this as basically a "Report Card" for shippers and carriers since it offers a comprehensive view of what they both have dealt with in the past year,...

FEATURED WHITE PAPERS

  • Breaking Bad: Conducting Full Truckload RFPs in the Age of Digital Freight Procurement

  • Fueling Sustainability for Manufacturers: Strategies to Increase Fuel Efficiency and Reduce Your Carbon Footprint

  • Guide to Proven Warehouse Solutions

  • Five common misconceptions about running a private fleet

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2022. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing