Supply Chain Risks in 2021 Trends and Forecasts
There are more and more questions about how to build supply chain resilience and what preventive actions should look like in order to maintain logistic continuity, operational efficiency and cost-effectiveness.
The most recent BSI report shows that the main causes of disruptions in the supply chains in the coming months will be regulatory changes, food fraud and - still - threats caused by the COVID-19 pandemic. Check out our short summary of the Supply Chain Risk Insights 2021 report on risk in supply chains.
Each year BSI publishes a report specifying trends and forecasts of events that may affect global supply chains in the near future.
This time, the authors of the report predict that the following trends will dominate this year:
the COVID-19 pandemic will bring new threats to organizations and companies;
the risk of labor exploitation, human rights violations and smuggling due to economic difficulties will increase;
there are new threats to drug trafficking that are evolving in the wake of the COVID-19 pandemic;
food and safety fraud will continue to pose a challenge to supply chain resilience;
regulatory changes will affect the adaptability of companies and organizations.
Supply chain risk management requires a holistic approach. That is why companies, in order to protect themselves against threats, should follow such forecasts on an ongoing basis and prepare plans in case they materialize. People responsible for managing supply chains, by acting flexibly and taking appropriate steps, can make the company immune to threats. The key to ensuring business continuity and the implementation of the most important services is always to take into account the unpredictability and volatility of risk factors.
We encourage you to read the report fully, in which, in addition to a broader discussion of the above-mentioned areas, you will find tips on managing and counteracting the above-mentioned risks.
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