Over the past decade, supply chain disruptions have significantly affected various organizations, resulting in costly recalls and cancellations. Effective supply chain risk management is crucial for enhancing resilience and efficiency amidst increasing complexity. Challenges include the aftermath of COVID-19, climate change, cyber threats, and geopolitical tensions. Successful strategies involve addressing known and unidentified risks through a risk-aware culture and advanced technology, such as AI and IoT. Solutions like political risk insurance, cyber insurance, and financial lines products can help mitigate these risks when combined with comprehensive planning and strong partnerships.

Source: https://www.scmr.com/article/best-practices-solutions-manage-supply-chain-risks