Supply chain risk remains one of the most significant threats to businesses in many industries, but the majority of executives are still not developing strategies to mitigate the problem, according to a report released Friday by UPS Capital and the Global Supply Chain Insitute.
Instead, most companies consider their corporate insurance policies their first and primary line of defense.
In fact, of the 150 firms that were surveyed as part of the study, 90% said they “did not formally quantify supply chain risk when outsourcing production,” and a full 0% said they have reached out to experts to help assess their risk exposure in this area.
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