The Supply Chain Resilience Report 2024, sponsored by Zurich Resilience Solutions, reveals that nearly 80% of organizations experienced supply chain disruptions over the past year, with most facing between one and ten incidents. This marks a significant increase from the previous year. The report highlights that third-party failures remain the primary cause of these disruptions, followed by cyber-attacks and natural disasters, indicating persistent vulnerabilities in global supply chains.
A notable trend is the rise in tier mapping, with 17.1% of organizations now analyzing suppliers down to tier 4, a significant jump from just 3.7% in 2023. This shift reflects a deeper understanding of supply chain risks and the importance of comprehensive supplier analysis. Additionally, there is an increased reliance on technology for supply chain reporting, moving towards enterprise-wide performance reports, which enhances visibility and management of supply chain dynamics.
The report also notes a growing awareness of the financial implications of disruptions, leading to an increase in insurance coverage. Currently, 46.7% of organizations are insured against major disruptions, up from 37.4% in the previous year. However, concerningly, 20% of respondents reported low or non-existent commitment from top management in managing these risks, often due to economic challenges and shifting budget priorities. This highlights a critical area for improvement in organizational resilience strategies.
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