Top 5 Supply Chain Events Impacting Supply Chain Visibility

There is no such thing as a small supply chain disruption, according to an annual report from Resilinc. These disruptions can impact your visibility into the supply chain, among other things. SupplyChainBrain reports the findings of the EventWatch Top 5 Supply Chain Disruption Events of 2014:

Typhoon Halong in Western Japan – impact of more than $10 billion
Severe flooding in Long Island – impact of more than $4 billion
Typhoon Rammasun in China and Vietnam – impact more than $1.5 billion
Taiwan gas explosions – impact $900 million
Intel hazardous chemical spill in Arizona – impact of $900 million

With a combined total of over $17.3 billion dollars, it is hard to believe that this was “a good year for supply chain events”. Shazaib Khan, Resilinc EventWatch program manager, notes that while there were no devastating events to the magnitude of 2012’s Hurricane Sandy, “it is important to keep in mind, however, that a common misstep that organizations make is placing too much emphasis on planning for the highest impact risks and disaster scenarios. Supply chain impact research indicates that the smaller, more frequent disruptions are more costly in aggregate than those precipitated by high-impact, but infrequent events.”

The report also found that for the second year in a row, factory fires were the most common disruptions, and the top three industries for supply chain disruption events were automotive, high-tech, and life sciences.

Check out the full article here for more findings on the EventWatch Top 5 Supply Chain Disruption Events Report.

With 2015 in full swing, is it time to look into your supply chain visibility? Check out our eBook, Three Must-Have Capabilities to Achieve Global Supply Chain Visibility, to fully prepare for disasters of all magnitudes!

Top 5 Supply Chain Events Impacting Supply Chain Visibility

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