Cargo theft is one of the largest issues that the supply chain faces at an estimated $22.6 billion. Globally, there is a wide range of challenges that the supply chain goes through and issues such as natural disasters and extreme weather events are very damaging.
According to BSI’s Supply Chain Risk Exposure Evaluation Network, here are the biggest threats to the global supply chain from 2016.
While extreme weather disruptions are out our control, supply chain risk management teams can help prevent and solve these security issues. Looking at the increase in cargo theft and hijackings over the year, companies should be participating in international supply chain security programs to address the concerns of China, Germany, India, Mexico, South Africa, and United States.
At MEP Supply Chain, we want to help manufacturers avoid these security issues and threats but devising an overall risk mitigation plan. For more information on a Risk Management Plan, go to MEPSupplyChain.org.