The magazine’s first annual Women in Supply Chain Award recognizes top female executives
September 23, 2020
March 19, 2019
Download the full 2018 annual report here
Cyber attacks continued to grow in intensity in 2018, with alarming new trends evident. First, government agencies are now being attacked more frequently. The March 2018 attack on computers and networks in Atlanta—a major national transportation hub—was the largest successful ransomware cyber attack on a U.S. city. In the private sector, aerospace, hi-tech, life sciences, metals, mining and natural resources companies experienced cyber attacks in 2018. The medical device segment in particular was recognized as an industry in which cyber attacks on manufacturers could pose threats to patients. After cybersecurity vulnerabilities were identified in the Internet connections used by Medtronic to update software in cardiac implantable electrophysiology devices (CIEDs), the company issued a voluntary recall in collaboration with Food and Drug Administration. Following this event the Healthcare Sector Coordinating Council, a joint group on security issues between industry and government, published a joint security plan addressing the challenges faced by medical devices. Similarly, a computer virus attack at Taiwan Semiconductor Manufacturing Company (TSMC) was caused due to a failure in following proper operating procedures for virus scanning.
Business continuity management (BCM)'s scope is perceived largely as internal to company's operations. In today's environment, biggest risks are from raw material suppliers or external partners.
With any supply chain disaster, the rippling effects of factory damage or shut downs can be immediately felt. Take the 2011 Japanese earthquake, as an example. Factories affected by the disaster were shut down, resulting in parts shortages at major suppliers which caused lines down and factory down times at large automotive manufacturers. The impact rippled through the supply chain layers. High tech, automotive, aerospace and other sector companies quickly found out that some of their suppliers were located or dependent on Japanese manufacturing facilities days and weeks after the event. Many supplier dependencies were not identified until much later.
January 30, 2015
Almost every article about supply chain risk management begins with the complexity and global reach of today’s supply chains. Over the last fifteen years, companies have made some very critical supply chain enhancements – sourcing from low cost countries, outsourcing manufacturing to sub-contractors across the globe, and going lean. I characterize these enhancements as Supply Chain 2.0.
November 14, 2014
Recently, while reviewing Zurich’s Supply Chain Resiliency 2014 report, I came across an interesting statistic: 51% of respondents report having a disruption below a tier 1 supplier, however only 27% of the respondents monitor below tier 1. I began to wonder, if there is a significant probability that a company will have a disruption in the sub-tiers, why aren’t more companies taking proactive steps to monitor the sub-tiers? Then I thought about my own experiences as a risk mitigation manager in the chemical and raw material supply chain and the challenges I had monitoring the sub-tiers. It really came down to two factors: supplier trust and supply chain manager time.