Dec. 1, 2015—Many small- and medium-sized businesses lack visibility in their supply chains, and are underestimating the risk of disruptions, according to two new studies.
According to Zurich Insurance Ltd.’s global survey, 55 percent of these businesses reported that they would not be affected at all if they were to lose their main supplier. The company polled businesses with 250 employees or fewer.
In a separate study, conducted by Zurich and the Business Continuity Institute, nearly one in 10 businesses could not identify their key suppliers and 70 percent lacked visibility over their entire supply chain.
The BCI/Zurich report also found that 74 percent of companies worldwide had suffered a supplier-related disruption in the past year and 14 percent had experienced losses of more than $1.1 million as a result.
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