Today's global supply chains are delivering products and services to market better, faster, and cheaper than ever before. Yet these advances have also increased the likelihood and impact of supplier and supply chain disruption risk. The potential negative impacts of a disruption are gaining C-suite and board-level attention given current global economic uncertainty, which has exposed significant gaps in business resiliency.
Marsh Risk Consulting's unique, proprietary solutions can help companies in their efforts to re-evaluate business strategies, gain a better understanding of the critical interdependencies and supply chain risks along the way — from the sourcing of raw materials to delivery to the customer — and appropriately manage or transfer risks.
Supply chain risks include everything from natural hazards, terrorism, pandemics, and data security to demand variability and supply fluctuations. Fierce competition and tight margins can further magnify the impact of a supply chain failure on a business. Today’s economic pressures exacerbate supply chain-related risks particularly in relation to supplier viability given tightening credit markets, downward pressure on costs, and shrinking consumer markets.
Marsh Risk Consulting's Supply Chain Risk Management (SCRM) Practice offers three primary solutions that are tailored to organizations' unique supply chain risk management needs and designed to help organizations ensure that:
- the supplier relationships they rely on will still be there when needed;
- supply chain risk management strategies are risk intelligent, agile, and resilient; and
- they can maximize risk management investments in viable and efficient practices.