Overcome emerging threats to business operations through implementing best practice supply chain risk management.

In an era characterised by unprecedented market volatility and systemic interdependencies, supply chains are rendered susceptible to an increasingly multifaceted spectrum of risks. From geopolitical tensions and cyber-attacks to regulatory changes and increasingly frequent and impactful natural disasters, the importance of supply chain flexibility and resilience is more important than ever before.

Sophisticated, proactive approaches to supply chain risk management are required as organisation face a tumultuous risk landscape, and advanced technologies create an opportunity for deeper insights, proactive intelligence, and competitive advancement. Leveraging risk management tools, organisations gain predictive insights, can make precise, data-driven decisions, and map a comprehensive risk landscape specific to unique operating environments.

Addressing the evolving supply chain risk management context, the newly published white paper, New Approaches to Supplier Risk Management, developed in collaboration with Prewave, provides a deep dive into the current and more importantly, the future state of supply chain risk management.

Based on data collected from thousands of survey data points and supported by in-depth thought leadership insights gathered from hours of interviews, the white paper outlines research into the most critical vulnerabilities to supply chains, and how businesses are navigating these challenges to reduce disruption and leverage data-driven risk management.

💡Value of supply chain resilience

Supply chain disruptions precipitate cascading effects throughout operations: manufacturing cessation leads to revenue attrition, which in turn erodes market position and diminishes working capital available for strategic initiatives and forward-thinking investments. Investing in supply chain resilience ensures that organisations avoid major risks from production stops to revenue losses and damaged brands, while at the same time improving agility and strengthening resilience.

🔍 Findings from the white paper

A compelling portrait of the current supply chain risk management ecosystem is covered in the white paper, with highlights including:

🌏 Geopolitical Risks Represent a Top Concern

In an environment characterised by increasing levels of geopolitical tensions, trade-wars, and changing tariffs, proactive risk management is essential. Nearly two-thirds of organisations reported that geopolitical events and trade disputes have had a high or very high impact on supply chains.

🔨 Disruptions are Frequent and Damaging

More than a third of organisations reported experiencing three or more production stoppages or closures in the past 24-months resulting from supply chain disruption that lasted 24-hours or more.

🧠 Supplier Relationships and Intelligence are Essential

To mitigate business interruptions, 55% of respondents are focusing on strengthening supplier relationships, and more than 24% have integrated 5 or more third-party solutions, the majority of which focus on providing greater data and intelligence into supplier risks.

📈 Technology, Software, and Data

Given the tremendous risks being faced, organisations are investing more than ever in data analytics and AI-driven solutions that will help to proactively mitigate risks. Organisations surveyed shared that between 30% and 40% of budget allocations are being made to software, data analytics, technology, and infrastructure to support supply chain risk management.

 Two-third of respondents indicated having one or more third-party risk management solutions in place, with a quarter having 5 or more solutions in place gathering and monitoring data to manage risks.

 Benchmarking technology investments against disruptions highlights a stark correlation in risks, with those lacking investments in dedicated supply chain solutions reporting double the number of disruptions across all categories of disruption.

Supply chain risk management has become a cornerstone of global business resilience. Around the world, organisations are increasingly recognising the critical role of software, AI, and data intelligence in securing supply chains against the entire risk landscape. 

-Lance Younger, CEO, ProcureTech

⚙️ Moving Beyond Basic Supply Chain Resilience

In an environment where supply chain excellence increasingly determines market leadership, implementing sophisticated risk management frameworks has evolved from a defensive posture to a source of competitive differentiation. Our research demonstrates that organisations deploying advanced risk management solutions achieve:

• 47% reduction in mean time to detect supply chain anomalies
• Material improvement in efficiency through optimised inventory management
• Enhanced EBITDA margins through reduced operational disruptions
• Demonstrable competitive advantage in supplier relationship management

The "New Approaches to Supplier Risk Management" white paper developed in partnership with Prewave offers a comprehensive analysis of these value drivers, supported by empirical evidence from industry leaders. Beyond tactical improvements, the research illuminates how procurement organisations can leverage predictive analytics and artificial intelligence to transform supply chain risk management from a cost centre into a strategic value creator.

For procurement leaders seeking to elevate their organisation's risk management maturity and capture quantifiable value, this research provides actionable frameworks for:

• Optimising technology investment allocation across the risk portfolio
• Developing sophisticated supplier risk scoring methodologies
• Creating robust business cases for digital transformation initiatives
• Benchmarking performance against industry leaders

🔗 Access the complete analysis and strategic implementation roadmap by downloading the white paper here.