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Supply Chain Threats

According to a video cast from the Lloyds 360 Project many businesses are failing to adequately plan for supply chain disruption Companies have sought to be more efficient by reducing stockpiles or raw materials, sub assemblies or other supplies adopting just in time practices that places pressure on the supply chain to deliver the exact quantity required, exactly when they are required.Whilst good for the company financially it is evident that many companies are sailing very close to disaster if that delicate supply chain process is disrupted.

Lloyd's emphasised a range of risks, from terrorism and political violence to the effects of global warming, and said that while individual companies might not be the direct target of a catastrophic event, they could be affected nonetheless.

Lloyd's gave examples of risks. It said that in February 2007, al-Qaeda called for UK oil supplies to be disrupted as part of an economic jihad. There have also been an increasing number of insurgencies in the Niger delta and Saudi Arabia.

In 2006, attacks on the transport infrastructure in Lebanon and northern Israel resulted in damage and delay to goods being transported within the region.

The video is available at www.lloyds.com/360expertopinion

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