Published: 12 March 2024
No matter the success of a risk management strategy, disruptions are inevitable. Supply chain leaders can ensure optimal response to disruption by leveraging business continuity management focused on actions, not ad hoc response, if they prepare long before a risk materializes.
The 2023 Gartner Balancing Sustainability and Resilience Survey showed that 53% of supply chain organizations reported that they were severely disrupted over 50% of the time in 2022. These disruptions can lead to diverse outcomes including reputational damage, loss of customers, disaffected staff and loss of revenue, all of which can negatively impact business value.
This survey also showed that disruptions often result from event-based risks that can reasonably be predicted. Examples include loss of site due to extreme weather events; loss of utilities including communication, water and energy; denial of access to premises; and IT disruptions.
According
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Analysts:
Heather Wheatley, Suzie Petrusic, Teh Leng Tan
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