Supply chains are increasingly exposed to a wide variety of risks , from natural disasters and geopolitical tensions to cyber threats and market volatility .
The COVID-19 pandemic served as a reminder of the vulnerabilities that exist within even the most robust supply chains , as companies worldwide faced unprecedented disruptions .
This , in conjunction with a host of other damaging events , has hammered home the need for risk management and resilience to become top priorities for organisations striving to safeguard operations and maintain continuity .
Building a resilient supply chain is no longer just about minimising costs or maximising efficiency – it is about preparing for and expecting the unexpected .
This undoubtedly requires a proactive approach to identifying risks , diversifying supply sources , leveraging technology and enhancing visibility throughout the supply network .
102 December 2024