Each disruption in global supply chains seems to bring a new surprise. On March 31 of this year, it was an explosion and fire at a chemical plant in Marl, Germany. The incident at the factory of Evonik Industries resulted in the deaths of two workers and caused damage that will take all summer to repair.
Analyst Insight: Our research finds that very few companies have a good handle on supply chain risk. The dynamic nature of trading partner relationships, the depth and global footprint of multi-tier supply networks, and many other factors make building a resilient supply chain very difficult. However, those that manage supply chain risk well can gain market share when the inevitable disruptions occur, impacting their competitors. - Bill McBeath, chief research officer, ChainLink Research