Future of Sourcing: Real-time Risk Intelligence – Antidote to Supply Chain Disruptions
Written by Atul Vashistha
Procurement, sourcing and risk leaders must face the challenge of understanding in real-time how the trickle-down effects of the Russian invasion of Ukraine will impact our global supply chains in order to minimize disruptions.
Ukraine is a leading exporter of raw materials, chemical products and machinery. Russia is a major supplier of fuel and energy products, as well as crucial metals. All of this has a large influence on the global supply chain. Between increasing prices, sanctions and bans, shipping disruptions and more, the impacts are widespread.
That is why companies must transition from periodic risk evaluations to real-time risk intelligence.
In this article for Future of Sourcing, Atul Vashistha, Chairman and CEO, Supply Wisdom emphasizes why procurement, sourcing, and risk teams must widen their risk aperture and prioritize continuous monitoring of geopolitical and location risks.