Disaster relief: a practical guide to recovery from nature’s mishaps

© Khunaspix Dreamstime.

What happens to your supply chain when nature strikes? Volcanic ash clouds; earthquakes and tsunamis; floods, floods and more floods; and yet astonishingly only 8% of companies surveyed by insurer Zurich Group had even asked their suppliers what business continuity plans were in place – and even if they had asked, the answer would probably be “None”. Risk mitigation strategies include being less lean and building up inventories, diversifying supplier bases and considering near-sourcing.