Supply chain efficiency is an incredibly important facet of businesses. Increasing the efficiency of a supply chain enables a business to augment revenue as it simultaneously reaps heftier profits amid diminishing business costs. As winter approaches, however, many companies are not doing enough to prepare for inclement weather and would do well to implement business continuity plans.
The types of supply chain disruptions that nature causes are myriad - from snow in the northern parts of the U.S. to hurricanes in the southeast and earthquakes in the west - and often, businesses do not account for their potential destruction as they map out their long term business plans.
In a recent survey, 72 percent of respondents, spanning 35 countries, affirmed that they had suffered a supply chain disruption in the last year alone. Not surprisingly, inclement weather was cited 53 percent of the time as the cause, by far the most common of any reason given. Businesses with foreign operations had the highest incidence of disruption at nearly 83 percent, as transportation issues often arise as adverse weather hits.
Shockingly, more than 20 percent of respondents believed that their supply chain disruptions had damaged their reputation and hurt business, emphasizing the need for a truly streamlined operation. Nonetheless, while many businesses admitted to supply chain problems, there is still a hesitance to shore them up. Doing so, still, would enable companies to better recover from such breaks in their supply chains.
The types of supply chain disruptions that nature causes are myriad - from snow in the northern parts of the U.S. to hurricanes in the southeast and earthquakes in the west - and often, businesses do not account for their potential destruction as they map out their long term business plans.
In a recent survey, 72 percent of respondents, spanning 35 countries, affirmed that they had suffered a supply chain disruption in the last year alone. Not surprisingly, inclement weather was cited 53 percent of the time as the cause, by far the most common of any reason given. Businesses with foreign operations had the highest incidence of disruption at nearly 83 percent, as transportation issues often arise as adverse weather hits.
Shockingly, more than 20 percent of respondents believed that their supply chain disruptions had damaged their reputation and hurt business, emphasizing the need for a truly streamlined operation. Nonetheless, while many businesses admitted to supply chain problems, there is still a hesitance to shore them up. Doing so, still, would enable companies to better recover from such breaks in their supply chains.
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