Making the “Mission Critical” Call on Supply Chain Crisis

As reported in SCMR last week, Dun & Bradstreet’s and E2open’s team of data and analytics experts, joined together to provide insights on the impact of this incident on global supply chains, focusing on the global business impact that this blockage will cause industries and countries long-term.

Brian Alster, General Manager, Third-Party Risk & Compliance, Dun & Bradstreet, has shared an additional insight with us regarding this episode

We asked him: What do you regard as best practices for supply chain managers in managing the fall-out of the Suez Canal and how they can avoid third-party risks generally? 

His response:

While the Suez Canal incident demonstrates the interconnectedness that comes with globalization and our reliance on each other as contributors to the global supply chain, it also sheds light on the opportunity to tap into the benefits of a company’s geographically dispersed supply chain. In the near-term, it is mission-critical that supply chain leaders complete an assessment of their critical vendors and suppliers to determine if any businesses they work with have been impacted by the incident - causing a single point of failure to a company’s supply chain.

Companies must develop a data-driven risk-based assessment process to identify and continuously monitor a variety of risks that could impact the productivity of their supply chain - creating a more flexible and agile network that can quickly pivot in any circumstance or during any unexpected event.

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