According to a report by A.T. Kearney and RapidRatings, supply chain risk management has become a growing priority among companies based on geopolitical volatility. The research found that 78 percent of typical companies and 90 percent of procurement leaders expect their organizations to be given more responsibility for managing risk within the next two years.
The report, “Managing Supply Risk: Are You Prepared for a Black Swan Event?” also found that procurement is often unprepared to respond to disruptions. Organizations that can identify, diagnose and resolve issues quickly are best positioned to manage supply chain risk.
“Most organizations acknowledge that supply disruption will occur. Unfortunately, few have invested in the systems and programs needed to respond quickly and efficiently to increased geopolitical unrest and the unpredictability of natural disasters,” Carrie Ericson, vice president of A.T. Kearney Procurement and Analytic Solutions and co-author of the study says.
Click here to download a copy of the report.