More than 90% of companies expect the disruption of global supply chains caused by the pandemic will have long-lasting effects on their businesses, according to a new report by risk-management consultants, Interos.
“The ongoing COVID-19 pandemic dealt an unprecedented shock to supply chains, and our survey shows that it remains a threat to operational stability,” said Jennifer Bisceglie, CEO and Founder of Interos. “Organizations have begun to realize the importance of continuously monitoring their suppliers for risks and disruptions, but more can be done.”
The pandemic exposed the vulnerabilities of many organizations, especially those that heavily rely on China for raw materials or finished products. Nearly half of respondents (45%) said they are susceptible to regional or geographic concentration. Other vulnerabilities include:
- Inadequate planning for long-term disruption (48% of respondents)
- Single point dependencies or bottlenecks (43%)
- Lack of understanding of the interrelationships with global supply chains (38%)
The aerospace and defense industry, in particular, comes up short on planning for short-term disruptions (cited by 60% of industry respondents) and knowledge of interrelationships with global suppliers (60%).
To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than 27 years of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.
Either through the hundreds of manufacturers we purchase directly from, or the international network of component supply-partners offering full product traceability, Astute Safe-Supply, run by sourcing experts and offers a deeper insight into the global components markets.
With real-time access to the latest listings and prices cultivated through several decades of close supplier partnerships, we are able to spot price disparities and leverage product price variances to deliver cost-effective solutions to customers, whilst ensuring a quality, risk-free supply.
For more help with looking at supply chain options, contact Astute Electronics.