What Was the Top Supply Chain Risk of 2015?
Sat, Mar 5th, 2016 12:00:00 am
Did You Suffer from the Biggest Supply Chain Risk in 2016?
The top supply chain risk of 2015 was cargo theft. It cost companies an estimated $22.6 billion. Other issues included global terrorism which resulted in billions of dollars in losses, economic downturns in Argentina, Brazil, and China, and extreme weather events such as El Nino which disrupted supply chains and prevented continuity within business in many regions.
Supply chain risk due to poor enforcement of labor regulations also caused issues as well social unrest in Africa and Central America.
Being forced to overcome challenges is something that many businesses know all too well. Without product arriving to the proper supply chains, it doesn’t get to the customer. Supply chain risks like the ones mentioned above cost companies lost revenue and customer trust.
Handling Supply Chain Risk
Accounting for supply chain interruptions is difficult. With terrorist threats, possible disruptive weather conditions, and labor issues threatening the flow of supply chains, it’s hard to estimate losses. With so many factors out of a company’s control, you can see why supply chain risk exists.
Billions of dollars of lost revenue hit companies hard making them reconsider their current supply chains. If supply chain risk remains high, what other options do companies have to transport products from one location to the next?
Minimize Your Supply Chain Risk With Kuecker Logistics Group
Kuecker Logistics Group can serve as your supply chain consultant to help you minimize your risk. To learn more about how we can help you streamline and improve your supply chain, call us today at (816) 348-3100.