The Supply Risk Category

Risk Expert Gary Lynch on Harvey, Irma and Supply Chain Risk and Resilience (Part 1)

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Hurricanes Harvey and Irma have come and gone, leaving devastation in their wake and — what’s that? More hurricanes on the way? At the time of writing, tropical storm Jose is expected to become a hurricane and make its way towards the northeastern U.S. Instead of looking at Irma specifically like we did for Harvey, we decided to take a broader look at supply chain risk. To that end, we talked to Gary Lynch, who, according to our chief research officer Pierre Mitchell, is “the best supply risk guru in the world.”

How Well Are Your Peers Doing in Supply Chain CSR? EcoVadis Releases New Report

If you’re a small or medium-sized construction company, congratulations. Chances are you’re doing pretty well in your supply chain corporate social responsibility (CSR) initiatives. Likewise if you’re a large company in the financial, legal, consulting and advertising markets. On Tuesday, EcoVadis released its first annual Global CSR Risk and Performance Index, which evaluated 20,400 companies according to 21 criteria related to the environment, labor practices and human rights, fair business ethics and sustainable procurement.

Assessing the Near- and Long-Term Supply Chain Effects from Hurricane Harvey

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Procurement professionals have their work cut out for them as rains from Hurricane Harvey finally recede. While the personal and human costs of the disaster are only beginning to be tallied, supply chain and logistics pictures appear even murkier. Here are the top supply chain areas Harvey has disrupted, as well as the near- and long-term consequences procurement organizations will face responding to the storm.

Post-Hurricane Harvey, 3 Supply Chain Risk Mitigation Strategies to Keep in Mind

It’s a simple yet excruciating irony that in a natural disaster that dumps more than 50 inches of rain on a single region, water becomes widely unavailable for consumption — for either people to drink or factories to function — even as it floods scores of neighborhoods. So it’s no surprise that water, and the havoc it continues to wreak in Houston and other areas, is central to the issue of supply chain risk management in the wake of Hurricane Harvey. Spend Matters has been covering the hurricane (see related stories below), which had been downgraded to a tropical storm soon after, and the disaster spurred a recent webinar presented by Resilinc, a supply chain resiliency solutions provider.

Hurricane Harvey Q&A: What Procurement Practitioners Should Be Doing Right Now

In this disastrous aftermath of Hurricane Harvey, emerging details about supply chain repercussions both locally and nationally have finally begun to paint a fuller picture. With Houston and its greater regional area comprising such a significant industrial hub, trucking, freight and petrochemical supply have all been frozen to varying degrees. But perhaps the biggest hit is the massive uncertainty over the full extent of the medium and long-term impact. We caught up with riskmethods' Bill DeMartino, general manager of North American operations, and Heiko Schwarz, the firm's founder and managing director, for a quick Q&A about what procurement professionals have been — and what they should be — thinking about in the wake of the disaster's fallout.

Hurricane Harvey Disrupts Supply Chains: Resources for Procurement

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Hurricane Harvey, now a tropical storm, continues to make headlines as it slowly moved from southeast Texas into southwest Louisiana. The New York Times reports that the storm has dumped a record 51.88 inches of rain on Cedar Bayou, Texas, and that the state’s flood-related death toll has reached 31. In addition to the non-quantifiable losses to the affected residents, the storm is estimated to carry an economic cost of tens of billions of dollars.

There’s a Reason Your Supply Chain is Making You Nauseous: You Don’t Know all of the Risks that Dwell Within It

Something about your supply chain is making you feel like your lunch is about to come back up, and you don’t know why. Sure, you’ve heeded the commodity forecasts and hedged your purchases for the rest of the year. Maybe you even dual sourced a critical component of your product to ensure the first tier of your supply chain is always reliable. But then you start to wonder about the suppliers of the suppliers to those suppliers and how exactly they extracted those raw materials. Or you remember the most recent ransomeware attack and how it shut down that auto manufacturer’s supply chain for several days. And then the nausea sets in.

Geopolitical Supply Chain Risk is Knocking on Your Door — Here’s What You Do

Pop quiz, hotshot. There's a bomb on a bus. Once the bus goes 50 miles an hour, the bomb is armed. If it drops below 50, it blows up. What do you do? What do you do? For those of you too young to remember or too old to care, this quote from “Speed,” the summer blockbuster of 1994, delivered by Dennis Hopper’s character, pretty much sums it all up. (I admit, for this 11-year-old at the time, the adrenaline rush was palpable, and with no big Marvel-style special effects!) In a different summer rife with risk — the one we’re in — the quote rings especially true.

Eaze: On-Demand Cannabis Delivery to Your Home

In the past month or so, Spend Matters has featured a number of articles about the fast-growing cannabis industry and supply chain. It’s complex, but the cannabis industry is not what it used to be. While the earlier articles have focused on procurement and supply chain processes and technology, there is another area of the business that was not covered: on-demand home delivery. Over the past two years, a number of startups have emerged to provide the platform/app-based service — think of it as a Grubhub or DoorDash for pot, instead of food. The list includes companies like Nugg, Speed Weed and grasp.it, but perhaps the most recognized — and most well funded — is Eaze.

Jabil Launches InControl to Take Aim at Supply Chain Point Solutions

Manufacturing giant Jabil launched recently what it calls a supply chain decision support platform, pitting its cross-industry expertise as a contract manufacturer against the services offered by point solutions. Called InControl, the platform offers five applications that provide visibility, collaboration tools and diagnostics for supply chain professionals. The apps cover supply chain visibility, event risk, design for supply chain, risk management and supply chain diagnostics.

Here’s How You’re Going to Get Supplier Risk Ratings in Less Than 10 Years

Imagine you're strolling along — or perhaps your self-driving vehicle is spiriting you around the new megacity in which you live — in the year 2025, while doodling around on your iPhone 15 (still unsafe while driving? or would that be cool by then since you're not actually driving?) At any rate, while you're checking a push notification on LinkedIn telling you to congratulate your college roommate who just got a new job at The New Facebook, the supply risk technology that your procurement organization uses is also using LinkedIn; only behind the scenes. For example, as you tap out a "Congrats on the gig, bro," an AI bot lets you know that LinkedIn has been sensing defections at a strategic supplier you have a relationship with. On its own, perhaps no big deal — but synthesized with other data, the picture being painted is the new normal for supply risk management.

Commodity Price Uncertainty is the No. 1 Concern for Global Energy Leaders, New Report Finds

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New technologies such as renewable energies and energy efficiency rank high in impact on priorities for global energy leaders, according to the World Energy Council’s eighth and latest annual report, The World Energy Issues Monitor 2017: Exposing the New Energy Realities. The report surveyed more than 1,200 energy leaders (CEOs, ministers, experts) in 95 countries on the issues that keep them “up at night.” One of the biggest, as shown in the upper right quadrant of the chart below, is commodity prices.