Ineffective management of supply chains is leaving organizations open to severe disruptions.
One in three organizations have experienced cumulative losses of over $1 million during the last year as a result of supply chain disruptions, according to a report published by the Business Continuity Institute, UK, and supported by Zurich Insurance Group, Switzerland.
The report showed that, despite a decrease in the percentage of organizations that experienced at least one disruption (70% from 74%), those organizations suffered more of them, with the percentage of organizations that experienced at least 11 disruptions during the year increasing from 7% to 22%.