In the final part of this week’s five-part special, Tom Fox discusses supply chain risks with Dr. Ian Oxnevad. He talks about the supply chain from a geopolitical risk perspective and the various steps companies can take to prepare themselves against those risks.
Dr. Ian Oxnevad is a political scientist and economist at Infortal Worldwide, a global risk firm that provides due diligence services to support key investment decision-making. Infortal Worldwide supports a lot of private equity investment, mergers, acquisitions, and any risk scenario a business may face.
- Supply chain intelligence must first begin with a risk analysis. Companies must determine their exposure to geopolitical risks, such as political unrest, social unrest, or war.
- How a company de-risks its supply chain depends on which risk is the largest. “Are you looking at closing the distance and reducing logistical costs between a customer and a company?” Ian asks. Suppose your company is considering alternatives to its current supply chain system or systems outside its country. In that case, it must consider corruption, terrorism, organized crime, and ESG.
- Ian goes through some steps Infortal takes when counseling companies through de-risking. He describes what it takes to create a solid supply chain risk response plan.
- The intelligence process gives companies legal guidance and any other relevant information they need for making the right decisions while mitigating as much risk as possible.
KEY QUOTE
” Supply chain intelligence is key to understanding and avoiding hidden supply chain risks.”- Dr. Ian Oxnevad
Resources:
Infortal Worldwide | Email | Tel: 1.800.736.4999
