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Natural Disasters, Factory Fires And Cyber Attacks Impact Businesses

Last update: 09/02/2018
 
KUALA LUMPUR, Feb 9 (Bernama) -- Resilinc Corp, a global provider of supply chain resiliency solutions released its 2017 EventWatch Supply Chain Disruption Annual Report, today.

The report identifies that global supply chain disruptions roughly doubled in the past year, potentially impacting 32 per cent of The Standard & Poor 500 (S&P) companies' supply chains, negatively effecting the United States (US) economy.

According to the report, natural disasters and weather-related events proved to be a considerable source of disruption across the globe and especially the US, which for the first time became the most impacted region in the world.

In addition to natural disasters, factory fires remain a significant risk to supply chains, and cyber-attacks increased substantially in 2017.

"This should be a wake-up call for business leaders around the globe," said chief executive officer of Resilinc, Bindiya Vakil.

She said, 2017 was a turbulent year for US companies and their supply chains, causing a hidden drag that must be addressed.

Meanwhile, director of EventWatch at Resilinc, Shahzaib Khan said: "When an event occurs, action must be taken by all members of the supply chain to ensure that appropriate steps are taken to avoid any potential impacts."

"The faster and more efficiently these steps are taken, the less the overall economic consequences."

The annual report is a study of the prior year's supply chain disruption events: natural disasters, extreme weather, fires, environmental hazards, geopolitical occurrences, and other business developments.

These events are tracked and their impact upon the manufacturing supply chains assessed by the Resilinc technology and expert teams.

-- BERNAMA

 
 
 

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