A new guide from Alcumus outlines how organisations can Secure Your Supply Chain in 2022.
Risk has always been part of the supply chain, dealing with multiple suppliers, contracts, and approval processes day-to-day. Alongside the more traditional and longer-recognised supplier risks, new threats have exposed the vulnerabilities of many organisations and the disruption to global supply chains.
COVID-19, Brexit, and also new measures to strengthen the landmark Modern Slavery Act 2015, are changing how organisations manage risk within their supply chain. At the same time, there are increasing pressures across a range of Environmental, Social, and Governance (ESG) factors such as delivering social value and improving sustainability and climate change impacts.
Despite supplier visibility rising to become a top strategic priority for global companies, 69% admit that they do not have total visibility over their supply chains. A high rate of volatile and unverified businesses working in your supply chain can lead to operational and delivery issues and failures.
Research from Alcumus revealed that during the last two years, over three-quarters of businesses had encountered instances where supplier performance had adversely affected their own performance. And almost 40% of businesses have found verification of the credentials of their supply chain has become more difficult1.
Never has it been more important to have clear considered risk assessments that are specific to your business and activities. This will help to make sure that you and people in your supply chain work safely and to best manage and mitigate exposures that can threaten your business.
Consistently monitoring supply chain risk factors is the key to protecting your operations, which is a continual process that should be carefully monitored for potential risk indicators. By taking the right actions, businesses can turn complexity and supply chain disruption into meaningful change.
To help to manage your supply chain effectively, we’ve produced a new guide to highlight some of the key pressures on your supply chain, so that you can measure your risks and make sure your supply chain is more resilient, giving you the confidence that your business and suppliers are well placed to mitigate any impacts wherever possible.
The guide, Secure Your Supply Chain in 2022, outlines:
- The major sources of risk to your supply chain and why these matter.
- Continuous improvement in supply chain compliance.
- How to proactively control your risks and vulnerabilities.
To learn more about the impact of these challenges that organisations face, download the guide here: Secure Your Supply Chain in 2022.
1 Alcumus Supply Chain Compliance Research December 2021 N=450 UK businesses with 250+ employees