The Impact of Supply Chain Risks on Board Agendas
Supply chain management has gained prominence in board discussions as recent events have highlighted the need for effective risk mitigation. Moody's Analytics identifies four situations where supply chain risks warrant board-level attention. These include risks that impact revenues and costs, potential damage to reputation, high-profile risks like cyberattacks, and the consequences of adjacent supply chain risks such as sustainability and climate concerns.
As supply chains face challenges like rising commodity prices, geopolitical strain, and cyber threats, boards recognize the importance of addressing these risks for business continuity and resilience.
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In a recent column in Supply Chain Management Review, a story surfaced about how a LAN transformer led to thousands of Audi, Bentley, and Porsche vehicles being stuck at U.S. ports, potentially breaching the U.S. Uyghur Forced Labor Prevention Act.