Top ten threats to logistics: geopolitics

Top ten threats to logistics: geopolitics

Finalising our ‘Top Ten Threats to Logistics’ series, we are looking at how geo-political factors put the global supply chain at risk.

During the Supply Chain Risk Management and Mitigation Workshop F&L Conference in Gothenburg in May 2018, the audience were asked from their own business perspective, what they thought were the biggest threats to the supply chain.

Geopolitics

Geo-political events, political instability, geological and climatological disasters, are some of the potential risks to global supply chains and can have a catastrophic financial impact on companies. Disruptions can occur anywhere along the supply chain. Supply Chain Risk Management is used to identify threats, assess them, and determine what actions should be taken to manage them.

The outcome of risk assessments can guide firms on how to handle risks through forecasting, appropriate use of single or multiple suppliers, risk sharing, information sharing and by collaborating with suppliers, ensure flexible supplier relationships, and security prevention measures.

Since 2016, UK companies have focussed on mitigating the effects of Brexit. With extreme uncertainty, many organisations in the logistics sector must utilise their detailed understanding of supply chains, timings, dependencies, barriers and costs to overcome potential challenges.

Another way in which the UK is facing the challenges of the unpredictable future of the global supply chain is through increased partnership. As part of SBRC’s Secure Supply Chain Scotland membership, Group Leader Stewart Hurry has set up an active working group to share preparation advice, the latest legislation and best practice in the sector. 

SSCS Project Manager and Secure Transport Lead Stewart Hurry said:

 “The group has met several times depending on the current political situation. Due to the size and influence of the group, we have been able to call on representation from HMRC to attend meetings and provide updates and explanations on preparations that need to be made to comply with both export and import policies and regulations.”

The UK is set to begin Brexit proceedings on January 31 2020. 

In April 2020, SBRC will be hosting a Secure Supply Chain Scotland Conference with HMRC attending and presenting.

Check out our full top ten threats to logistics list:  

Top Ten Threats to Logistics

Threat 1 – Insider Threat

Threat 2 - Theft

Threat 3 – Unexpected Incidents

Threat 4 – Terrorism

Threat 5 - Reputational Damage 

Threat 6 - Capacity 

Threat 7 - Infrastructure 

Threat 8 - Cyber-attacks

Threat 9 – Compliance 

Threat 10 – Geopolitics  

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