Supply Chain Now Episode 287
For Episode 285, Scott welcomed Tim Yu and Shehrina Kamal with Resilience360 to Supply Chain Now.
[00:00:05] It’s time for Supply Chain Now Radio. Broadcasting live from the Supply chain capital of the country, Atlanta, Georgia. Supply Chain Now Radio spotlights the best in all things supply chain the people, the technology, the best practices and the critical issues of the day. And now here are your hosts.
[00:00:29] Good morning, Scott Luton here with you, Liveline Supply chain. Now welcome back to the show. On today’s show, we’re going to be diving into the world of Supply chain. Risk will not only be reviewing the top 10 supply chain risks from twenty nineteen, but also be gaining insights for how to mitigate risk globally in today’s environment. As we all know, the business world is a risky place and your supply chain is no exception. Learning from the past can certainly help you prepare your supply chain for the future with more informed business decisions and forward looking plants to stay tuned for information that will help increase your supply chain IQ. On one quick programing note, you can find supply chain now wherever you get your podcast from Apple podcasts, Spotify, YouTube, you name it. We’d love to have you subscribe so you don’t miss a thing. Let’s welcome in our special guests here today, Srini Kamahl, product director, risk monitoring with resiliant 3:06 360 Inner Colleague. Tim, you risk intelligence analyst for a peak for resiliant 360, Cherien. Tim, good morning.
[00:01:36] Good morning. Hi, Scott.
[00:01:38] It’s great to have you. Good morning. So for starters, before we dove into the Resilience 360 in a root annual risk report and some your insights perspective. Well, I want to get know both of you a little bit better here. So, Cherien. Let’s start with you. So tell us a little bit where you’re from and and give us a few anecdotes. Own your upbringing or your education. Sure.
[00:02:01] So, Scott, I’m originally from Bangladesh and I’ve lived and worked in three continents and I’m now currently based out of Cologne, Germany. As you can imagine, having grown up in Bangladesh, my personal risk tolerance is perhaps a little bit higher than most people. There was only a matter of time that I ended up in the business of risk management. It can perhaps seem dry to most people, but I find it incredibly exciting and fast moving space to be in.
[00:02:26] Mm hmm. Absolutely. And so helpful as we’re all trying to keep our finger on the pulse of of how to how to manage risk better and how to how to operate and manage these global supply chains. You can’t ignore risk these days for sure. So, Tim, how about yourself? Tell us more more about Tim. You.
[00:02:44] Sure. So I’m actually both from Canada and Hong Kong. So in turn, is a little bit about myself actually come from more of a policy background.
[00:02:55] So I actually completed my degree in public policy here in Singapore and also spent a bit of time splitting the program also in D.C. and uh, yeah, I know in terms of echoing what Serena said, I think it’s a it’s a very exciting space to be in. And I think that there’s all sorts of issues that that, ah, you know, apply to, of course, to supply chain. But also there’s global implications smelted step beyond that. And so it’s very exciting space to be in.
[00:03:24] Agreed. So, Tim, a little birdie told me that you were a big hockey fan. So tell us about your favorite team. Did you ever play the sport?
[00:03:34] I did not. I did not play that. I’m actually. So, as I say, I’m Canadian.
[00:03:39] So I’m actually big fan of the Toronto Maple Leafs, which are either beloved or not so loved depending on which part of the country you’re from.
[00:03:48] But yeah, it’s it’s it’s a nice little pastime that we have and it’s still stuck around after all these years.
[00:03:55] Toronto is really gaining in the tour it notoriety as a as a sports city. We’ll have to cover that on an upcoming. Yes. All right. Well, we appreciate the opportunity. Now you look both Lu it better. Let’s kind of switching gears from a personal background to more of your professional background. So what did you do? And we’ll start with you, Tim. We’ll continue with you what you do prior to your current role.
[00:04:20] Yeah. So I was actually set before it before joining ar3 six years with the Financial Services Trade Association. So it’s focusing on cybersecurity regulations in that role. And then before that, I was with the Canada China Business Council and that role was focusing more on a bit more of the policy aspects as well. But basically helping Canadian companies when when they come over to China, essentially to look into the market and see basically what what opportunities are out there and what they need to to be keeping an eye on.
[00:04:54] And Shereen, how about yourself, what you do prior to your current role with Resilience 360.
[00:04:58] So I started my career at. The development consultancy Space Working in projects for the World Bank IFC. From there, I joined Lu Logistics Industry, which I’ve been part of for more than eleven years and started in roles spanning communication and Logistics innovation and found myself drawn to this new startup. We were incubating a Dutch post DHL eight years ago to address customer concerns around managing Supply chain risks.
[00:05:26] So as you were talking about in your opening comments, as much as you love the risk but space clearly, Sareena, you’ve really come to love the Logistics space as well.
[00:05:38] Absolutely. I think the cross section of Logistics and risk management is a it is an interesting kind of area.
[00:05:46] It really, really has, especially these days. Well, let’s you know, we referenced the company a couple of times now. And Cherien, I wonder if you could for our audience, tell us more about what Resilience 360 does and what problems the company is helping its customers solve.
[00:06:04] Sure. So at its core, Resilience 360 is a software that enables organizations to essentially visualize, track and mitigate risks in the SUPPLY CHAIN. It enables organizations to visualize, for example, their supplier networks track shipments across different modes and lanes and enables near Real-Time monitoring of anything that could possibly disrupt their supply chain. So what’s very interesting and unique about us is that we verify risks using both artificial intelligence, but as well with a human network of DHL employees and 20 220 countries and territories. And if you look at all the things that customers are looking to address with risk management, I think it’s it’s kind of good to look at issues such as where do you invest your risk management efforts? Even the most resource heavy organizations need to prioritize. So by acquiring visibility into Supply chain networks, customers are looking to use Resilience 360 to figure out how to avoid supplier failures, avoid production outages, avoid lost sales, also reduce premium freight costs and just to name a few of things and how to just limit reputational loss by staying ahead of disruptions.
[00:07:15] So maybe I’m wrong here, but as you described that I’m thinking of mission control and I think was in Houston, right, for NASA. You got the map of the world. You can kind of see anything has it as it pops up. Is that kind of with the supply chain twist? Is that kind of Rasyid 360 in a nutshell?
[00:07:35] That’s absolutely right. And it’s all the more prevail. And Supply chain issues might not be things that appear in open source media. So our customers are looking for things like port congestions or labor strikes or Industrial issues, and those things can be quite hard to find. So they’re using us to figure those things out without having to spend a ton of resource researching it themselves.
[00:07:57] Okay. All right. So let’s let’s talk about what both of you all do in your current role. So, Tim, what do you do as part of the resiliant 360 team?
[00:08:06] Yeah. So I’m actually part of the risk intelligence team. So in terms of my day to day work, I’m essentially trying to track a particular instance or events that are of potential risk to our clients from a supply chain perspective. But also on top of that, we also try to provide in terms of our ad hoc analysis and research, we try to also provide special reports to our clients as well. And these are kind of focusing on bigger, broader issues that have direct supply chain relevance and of course, being based out in a park. My focus is focus on predominantly China, but also other Asia-Pacific countries, but also helping out our team globally as well with issues that interconnect all regions now.
[00:08:54] But your your policy background is in particular really helpful as you look to kind of take the current scenario’s current activities, kirtan risk and then kind of put it in proper context for many of your customers. That that accurate.
[00:09:09] Yeah, yeah, I would say so. I mean, in terms of of course, over the past year we end. And we’ll get into it later in this podcast as well. But I think, of course, it’s sort of the trade war issues. I think that that’s from fight to policy driven that we also cover that environmental compliance related issues and that’s kind of related to government directives that might be impacting production and all that sort of stuff. So it certainly does come in handy.
[00:09:36] And sure enough, tell us more in your current role as product director, risk monitoring with the organization. Where do you spend your time?
[00:09:43] Sure. So since joining the team in its early phase, development of managed our risk monitoring products, which includes being able to provide our customers with insights on any real time disruption that may be impacting the supply chain, but also taking it a bit further and looking at any. Early indicators of stress, especially supplier stress and being able to provide those insights to our customers in good time so that they can make decisions that can help them mitigate some of those risks.
[00:10:12] So in this capacity, I currently lead a global team tasked with helping our customers understand how to navigate a changing risk landscape supplier stress.
[00:10:22] I think that I think now. Yeah, it really is. Tip, tip of the tongue for many folks in Supply chain these days. OK, so now that we’ve got a good solid background on our featured guests and their organization, I want to dove into what I’ve come to understand is the resilient 360 annual risk report. So, Sharon, to start with you. Tell us more about what this report is and how it came about.
[00:10:47] Sure. So we’ve actually been monitoring disruptions for the past eight years. And in this time we noticed that risks can change from year to year. The idea of an annual risk report was developed to help our customers have a better understanding of the evolving nature of risks and the impact of changing supply chain issues, says a supply chain risk environments become more complicated. Each year brings new challenges for companies with different threats and unexpected events. And while we wanted to do was bring our knowledge and expertise. TS And one place to help guide the discussion around supply chain monitoring and risk mitigation strategies and to extend this enable also better informed decision making process so that our customers can be armed with the information they need to develop their strategies for the year. So the product of that labor and love is essentially the annual this report.
[00:11:37] So how long and how many years is this report been coming out?
[00:11:41] So this is actually our second edition. So we published the first one last year, and it was it was very well-received and we decided to continue this year.
[00:11:49] And that’s what I understand. So what from your first year moving into your second year in any lessons learned, a tweaks you all made toward the report based on some of the the feedback?
[00:12:01] So I think what we’re trying to capture a little bit more going forward is how our risks changing quantitatively year on year in different regions. And that’s something that we’re going to be looking at a bit more from this year onwards. But I think what’s also good to know is that some risks are also a continuation, so they don’t change drastically from one year to the other. A great example is the trade war situation. Of course, we’re not going to see a completely different risk from when 2020 starts. So our kind of feedback has been that, you know, it’s a very helpful way for companies to be able to get a glimpse of what’s going on this year and what kind of predictions we’re making for the coming year.
[00:12:45] Absolutely. So tell us more about the top 10 risk trends from last year’s in a risk report. I think that that’s can be helpful context for our audience course.
[00:12:56] Ups. I already alluded to one, which is the trade wars that we saw a lot of in 2018 and then also going into 2019. And I think one of the things that we had sort of predicted is that trade wars will be driving the restructuring of manufacturing networks. And I think some of those did come to light over the course of last 12 months. And as a kind of a product of that particular recipe saw and predicted things like economic uncertainty and structural changes, putting suppliers under financial stress. We looked at rising demand and fragile supply of critical raw materials, whether it be lithium or cobalt or anything that is required for manufacturing production. We looked at things like climate change driven weather disruption. So more intensifying weather issues that have perhaps been going on for a long time. But the effects are more intense as we as we as we go through these things. Now, we looked at tougher environmental regulations, particularly across Asia-Pacific and then things affecting transport. So increasing container ship fires and hazardous transport that may affect cargo transportation. And what else? And things such as border closure, threats or longer wait times, perhaps they’ve been driven by political developments such as the EU UK border issue driven by Brexit.
[00:14:20] It just it never gets easy for supply chain managers and leaders or it that’s gosh, a lot of so much you mentioned. You can’t be in the blindspot of many folks. And I love how your report makes sure this is front and center for folks for managing your global supply chains and trying to avoid stepping in certain things while they’re still trying to put out other fires. Right. All right. So, Tim, let’s talk about what some of the predictions from the 2018 edition of the report that were of that were that came to fruition over the past year.
[00:14:56] Yeah. So, I mean, as as Trina was alluding to. Of the ongoing trade disputes and trade tensions, that that one is quite obvious. So not only did we see the U.S. get engaged with trade disputes with various different countries, we also saw it out here in a park as well. So there was a high profile dispute between South Korea and Japan over chemicals that are used for semiconductor products and materials. So that had a major impact on tech supply chain. So this is not only involving the U.S., but also a global phenomenon that we also saw in different parts of the world. Another issue was also environmental and industrial safety complaints. So this past year in March, there was a major chemical explosion in China. And this was involving a supplier that had a background of not necessarily being compliant in terms of industrial safety standards. And this had a major impact in terms of triggering industrial zone shutdowns and also the forced shutdown or relocation of particular factories or suppliers. And that also had a major impact on companies that are sourcing from this particular area in in China for four chemical supply chain. So that was a major thing that came into fruition. And then finally, also astring, it was also mentioning earlier weather driven disruptions. So we saw major flooding in the U.S. Midwest during spring. There was also Hurricane Dorian that hit the Caribbean and also the recent wildfires that that went off in Australia. So these things cumulatively not only had a major business impact, but I think also inter as global psychiatrists became cumber integrated, they pose more risks and disruptions on that front.
[00:16:50] So in the inaugural annual risk report in 2013 really nailed some of the circumstances that organizations and supply chain firms would be dealing with in twenty, eighteen and twenty nineteen. So, Tim, a follow up question that you’ve already spoken to a little bit, though. How prevalent are those risk friends today? And if you were to think back at which risk calls the biggest impact at twenty nineteen, that would just completely speak to that a bit as well please.
[00:17:23] Yeah, I’d be happy to. In terms of I feel like we’re going to mentioned this quite a few times on this podcast, but of course trade restrictions and ongoing trade wars. So I think that’s just just more broadly in terms of from a practical standpoint, essentially with these tariffs that are escalating, companies have to make the decision of whether they want to shift production elsewhere, whether they want to uproot from China to to move to another location. And if they’re not willing to do that, if they want to stay in China, essentially, what are the reasons or rationale behind that? So that was something that not only was prevalent in 2019, I think, going forward, particularly leading up to the upcoming election next year. I think that’s the trade issues are going to continue to to be prevalent. Also, one thing that we still see being prevalent today is cart cargo and border disruptions. So particularly the migrant care events at Froome between the US Mexico border. So this. So over the past year. And also in 2018, there were major disruptions at ports and also at that particular cargo lane. So that increased reading time sentence. This is something that’s potentially we see being a prevalent set going forward in this year as well. And also another area would be industrial action and civil unrest. So this past year, we saw it in in regions or cities that we wouldn’t necessarily have expected it in. But essentially from particularly for cargo transport to. There was there were major disruptions in terms of being able to sustain the proper flow of goods across from one region to another. So in particular, just one example was in November, there was industrial action in Canada in late November involving sea and rail.
[00:19:14] So that had a major impact on getting goods that are perhaps a bit more reliant on on rail to transport their goods essentially for suppliers and companies trying to source from there. Essentially, it created great disruption. So these are just some things that we saw that over this past year in 2019. And we think that going forward, we’ll also be seeing that again.
[00:19:39] As you shared some of your insights there. I was thinking about a Wall Street Journal article I read this week about the ocean carriers coming off.
[00:19:48] They finally we get a breakthrough on some of the trade war and then the Corona virus is really impacting ports throughout China and Asia and, you know, some ship. The ships that are even are leaving because over 50 sailings have been canceled since late, late January, believes a number in some of those that haven’t been canceled, their ship, they’re leaving the dock, 10 percent fall. And I read that five ocean carriers are signaling profit warnings or preparing profit warnings. So you just when you think you’re over, one hurdle, you know, unfortunately, comes of the epidemic that we’re all hearing and managing as best we can. Sheer analyst, let’s bring you back in. So let’s talk about, you know, how the global how global companies were were really forced to adjust to these supply chain risk in twenty nineteen.
[00:20:46] Sure. So I think adjusting to sort of big impact supply chain disruptions can be often quite difficult. But what we saw with the ongoing trade war disputes is that companies were forced to think about how to deal with the tariffs and other trade policy measures that could perhaps warrant relocating manufacturing operations, shifting upward, put elsewhere, or considering staying in China because it offers certain benefits, the moving operations to either Vietnam or India as an example. So I think moving or restructuring a supply chain network requires a lot of thought. And we saw organizations being forced to think about these things more and more as they encountered trade war issues that that didn’t seemingly go away any anytime soon. I think what’s also important when it comes to looking at greater economic uncertainty and structural changes, supplier insolvency, as I mentioned earlier, was was a big topic and companies were forced to consider strategies such as dual sourcing options were more monitoring financial stress early on before even an insolvency became an issue. And even consider diversity, diversifying suppliers across various regions where more risk probabilities may be comparatively lower. So I think what we saw is that companies were confronting these a little bit more proactively, just given the nature of the supply chain risks that they were confronted with and really considering options that would help them be more agile in their supply chain operations.
[00:22:21] Well, yeah, I think you hit the nail on the head that that ability to be proactive is so valuable in today’s environment. And folks are craving they’re looking for for solid information wherever they can get it. And kind of what I’m taking away from this conversation is this between the annual risk report and just between what you the Rasyid’s 360 team offers, it is that timely information so that you’re not always in a reactive mode, but you can get ahead of some of these things that we’re dealing with. Is that a fair statement, Shreya?
[00:22:57] Absolutely. I think we’re long past the days where companies can be sort of reactive to certain destruction because anyone who has the best information and has the best strategies and certain mitigation measures in place are the ones that will gain a competitive advantage. So if you’re doing a or adopting a wait and see approach, it’s very likely that you’ll be ousted from the market because somebody else is doing it better or managing disruptions better. So I think anyone that wants to get ahead of the curve will have to think about supply chain risks more proactively.
[00:23:33] So let’s let’s talk about what can folks for this year’s Aigner Risk report.
[00:23:39] I think we’re already foreshadowing what folks can get out of it. What else would you add to the key takeaways of what folks can get out of this annual volume of information?
[00:23:51] Sure. So, I mean, whether it be trade issues or production halts, reporter disputes. But we’d like the readers of this edition of the annual risk report to understand is the underlying causes of the major events of last year and assess how these risks that we foresee gaining greater prominence and 2020 impact our own business operations based on the insights that we’ve highlighted in the report.
[00:24:12] We hope that the readers can make better informed decisions about the changing risk landscape and create more resilient and sustainable supply chain operations because it’s not likely that any of these things will go away. But how you sort of adapt to that environment, how you use that information to make your supply chain a little bit more agile, a little bit more resilient is what will make the difference. So we hope that reading our report organizations can use that insight to to their to their advantage.
[00:24:40] So tenuous. Bring you back into the conversation here and let’s talk about what you believe the top 10 risk trends for this upcoming year will be.
[00:24:50] Yeah, sure. So for this year’s edition, we also wanted to kind of do our own projection again in terms of the top 10 supply chain risks that we saw. For this upcoming Fed this year in 2020. So among top of our list are cyber threats, just supply chain and manufacturing operations, as you discussed, trade issues that are going to impact global cargo flows. Also, economic sanctions that have come also as a byproduct also of the trade war as social inequality and climate activism induced protests. So these things can be things that are impacting industrial production at a Industrial site. Or it could be impacting transport infrastructure. Border disputes and closures impacting supply chains. We also projected environmental regulations in shipping and also targeting emissions from heavy polluting industries. Other things that are also new. New this year. Also new and enhanced shipping routes. So what we’ve seen are more duration rail routes connecting China to Europe and also different vessel lanes and then northern and arctic routes for vessels traveling from Asia to Europe. Also, the growth of narcotics cartels targeting, targeting container ship container shipping lines. So we’ve seen a few instances of actual seizure of heavy drugs by by U.S. authorities on commercial shipping lines and also finally, scrap import restrictions that have led to heavy port congestion. So in particular, or over here in APICS, we have quite a few countries and governments that are pushing back on restrictions on plastic waste and also metal metal scrap waste. And I think essentially the screen challenge is not only at ports, but also in terms of how companies traditionally sourcing these items or these materials. That’s also created disruptions within the supply chain space.
[00:26:54] So I’ll try to do a mental checklist of what something you are sharing there. And a year ago or two years ago, would landscape was. But what were the biggest differences from the top 10 trends from last year’s report, you think?
[00:27:12] Well, I think like like Trina Singh, I think that essentially that we do have some overlap. So it’s not just completely 10/10 new things and we’re ignoring everything else. But essentially when we talk about things like trade policy, environmental regulations, even border closures, these are kind of things that that do have relevance from that from last year that also carry over into this year. Of course, our analysis is a bit is a bit different in terms of how we go about it for 2020. But those are things that that we’re we do have an overlap. But in terms of the things that we think are of potential relevance that are new in terms of our reports that we also think that the growing risk of cyber threats to manufacturing operations is a big thing. What I just mentioned on the net, narcotics cartels being more prevalent on commercial shipping lines, that that’s that’s something that that we’re seeing. And also, as I just mentioned, on on the scrap imports. So these are just kind of, you know, a high level list of some of the things that we see that are a bit different. But some nonetheless, we we view them as major trends. That’s that we want our customers to be aware of.
[00:28:23] So you’ve already kind of answered my next question a little bit here, but the risk that you believe will have the biggest impact in 2020 out of all that you’ve shared. What would be the top two or three there?
[00:28:35] Well, I think what Ed just mentioned in terms of cyberattacks, so within our organization, I think. So we do have on our on risk intelligence team, we do have a cyber security group that that tracks this sort of stuff. But in terms of our totals from this year compared to last year, so in terms of the 19, we actually recorded a total of 290 cybersecurity incidents compared to sixty five the year before. So this is not only reflective, I think, of organization as a whole paying more attention to these issues, but also the growing threat itself of cybersecurity related attacks. So just one particular example of how this applies to the Supply chain spaces. In March, we actually saw a major ransomware attack target, a global aluminum producer based out of Europe. And this actually forced them to halt their operations. So actually, from our perspective, I think that’s essentially cyber attacks or cyber security related incidents are definitely something that we’re we’re paying close attention to in terms of other risks. We mentioned that the trade disputes and the sanctions that are going on. So perhaps to elaborate on things that we haven’t mentioned before, I think in terms of the in addition to the terrorists themselves, there’s there’s also different types of sanctions lists that are coming out, particularly between the US and China, targeting high tech manufacturing. So that. An area that’s on both sides that’s becoming more contentious and you see that being a risk area going forward. And also in terms of more social inequality or climate activism driven protests. This actually had has had a major impact on cargo transport. So just what one eminent example. That’s not too far away was actually is is actually Sergeant Sambor with the pension reform protests in France. This had a major impact on all sorts of transport. So this also said this important, this impacted cargo also created disruptions at ports and and at refineries and all that sort of stuff. So these are just some of the areas that we see risks potentially having a major impact in 2020. And these are things that we’re definitely keeping an eye on.
[00:30:53] And Scott, just to add to that, I think sometimes, you know, impact us is quite, quite a big word, but impact always associate is associated with what your exposure to that event is. So what we always advise our customers and organizations to understand is how are they exposed to a certain event so that they can understand what the potential impact could be, even if there is something really all over the news, there’s a there’s a bigger than taking place and perceived impact could be very big. It may just turn out that that organization has no shipments going through that location at that point in time. So it becomes very important to kind of connect the dots and be able to figure out, you know, even if I do have locations here, am I really impacted or is this something that I’d rather not spend too much time figuring those things out? So I think one of the things that we try to do from Resilience 360 side is not just provide information and insights on what’s going on in it and what could happen or what could be the eventual outcome, but also help customers figure out, you know, how are they impacted as a result of that event.
[00:31:54] Serena, that is a excellent point. It’s easy to get lost in the in the hype of all the major news stories. Right. And what we have found, what we hear a lot about is Supply chain leaders trying to pick up on the signals rather than all the noise. And I like how you put it.
[00:32:14] You know, if if your exposure is minimal, some of these large. Disrupt global disruptions. It helps you determine how you spend your resources, correct? Sounds like that’s where you’ll spend a lot of time making sure that your customers are keeping things in proper context as in terms of what they mean for their their global supply chains. Absolutely. All right. So let’s Sherkin. Let’s talk about how did Supply chain risk differ across various regional economies? 19 compared to 2013. I think we’ve we’ve touched on this a good bit throughout the podcast. But what else would you add? Maybe it is has been our blind spot. Not that much is in that blind spot of the Rizza hit 360 team, but what have we not touched on?
[00:33:06] Yeah. So I think looking at some of our numbers, we were noticed that in North America we saw an uptick in twenty nineteen for fire related incidents.
[00:33:14] So up from fifteen point one percent to 30 percent. There was a number of high profile fires that broke out, such as a chemical fire at the International Terminals Company along the Houston ship channel. That was in March last year and a number of other ones as well. So I believe this of these have contributed to the numbers that we see from for the last year. But we also saw in Latin America and the Caribbean a considerable uptick in cargo disruption and theft related events in Asia Pacific. We saw an increase also in FA related incidents, but also a slight increase in natural disaster events. There were a number of major incidents, such as an explosion in Junction Province in China that contributed to the fire numbers, but also a number of natural disasters like type type 1, Hughey Base, licky, Ma and so on and so forth. But what’s interesting is that across the world we saw a widespread increase in civil unrest. And I’m sure you’ve been following the news. You saw this as well. That was mostly triggered by simmering social and economic discontent with protests, blockades and Hong Kong. She Lebanon, South Africa, Bolivia and Puerto Rico. And these blockades were increasingly targeting critical transportation infrastructure. So that was something that was quite common across the world that was higher in terms of numbers than the previous year.
[00:34:38] Sheer and had you see global companies mitigating these supply chain risk moving forward in 2020.
[00:34:47] Right. So I think before you can mitigate the risks, companies need to first identify and monitor and assess them on the leading edge. I think many companies are striving to have this at agile supply chain that can absorb and quickly recover from any shock or disruption.
[00:35:02] And these can be done by having to having dual sourcing strategies in place, ensuring that alternative production capacity exists within one’s network in case there is a disruption. But on the Logistics side of things. Companies can also consider multimodal transportation options so that any bottlenecks or congestions arising in one mode of transportation can be mitigated by another thing. Overall, companies need to proactively develop these mitigation plans and we just talked about this a little bit earlier in our conversation. Based on their own risk tolerance levels and not wait until a disruption occurs. But regardless of the size and the scope of a company’s network, what we’re aiming to do is provide insights that help guide the supply chain risk discussion and companies and enable better decision making processes and help formulate responses that customers can use to build more resilient supply chain operations.
[00:35:55] And that’s one of the most important things that that it boils down to is are your customers able to make better decisions faster, right?
[00:36:03] Taroona Absolutely. Especially when a crisis strikes. You don’t want to be spending all your time gathering folks and trying to figure out who is responsible for what and what decisions and what actions need to be taken. So we’re trying to help organizations be faster and that we can’t stop bad things from happening. Nobody can. But we want you to make the right decisions at the right moment. And without delay. So that’s what we’re hoping to help our customers achieve.
[00:36:29] Outstanding 10mins. Sareena, really appreciate your time this morning. It’s fascinating what you all do and how much information you’re consuming to better educate your customers. You could have drove for six hours into these topics that both of y’all so succinctly put up. Have your back on as 20/20 continues to develop from a supply chain news and development standpoint. But for start. But but as we kind of wrap up here, Serena, first off for you. How can our audience learn more about resiliant 360, but also, how can they connect with you?
[00:37:05] Sure. So our audience and listeners can check out their Resilience 360 Web site. We can be found at Resilience 360 dot com. But we also have a LinkedIn page and a Twitter page where we continuously update and provide insights. What’s going on in the world? So we encourage everyone to follow us there. I’m personally on LinkedIn so I can be found there and I’m happy to connect with anyone that feels just as passionately about Supply chain risk management.
[00:37:33] And clearly there’s a ton of passion. His podcast. Here. Love it. All right. Same question for you. How how can folks. Clearly, we know how to how to connect with the team at resiliant 360. How can folks connect with you?
[00:37:46] Yeah, I think just as a Srinath saying, I’m also quite, quite active on LinkedIn. This also if folks want to reach out, I’m more than happy to to connect. And also we also try to post when we come up with not just our annual fight, but with our special reports or articles that we put out some else try to put that up as well and try to connect with people through there. So please feel free to reach out to me anytime.
[00:38:09] Outstanding. Really appreciate it. Thank you both for your time today. Serena and Tim and to our audience. We’re gonna wrap up today on a quick announcement. We invite you to check out our events and webinar schedules at Supply Chain Now Radio RT.com, a variety of upcoming, in-person and virtual events with a wide range of partners across here in the states as well as the globe in particular. On March 5th, we’re going to be welcoming resiliant 360 back in the studio as they’re gonna be releasing the top ten Supply chain risk trends for 2020 in a really big reveal of your webinar. We’ll be offering up some Q&A opportunities for audience. And you’re not going to want to miss that. You can join us right here on Supply chain now and we’ll make sure the link to that event is in the show notes of this episode. So big thanks to our guests here today. Again, Serena Kamahl, product director, risk of monitoring with Rasyid 360 and her colleague Tim. You risk intelligence analyst for a peek for the organization. To our listeners, be sure to check out other upcoming events, replays of our interviews, other resources at Supply Chain Now Radio dot com. Find it’s wherever your podcasts from. Be sure to subscribe. Don’t miss important information just like you heard here today on behalf the entire team. Scott Luton here wishing you a wonderful week ahead. And we’ll see you next time on Supply Chain Now. Thanks everyone.
Tim Yu currently resides in Singapore and leads the coverage on international trade, customs, and regulatory policies impacting business operations focusing on the APAC region for multinational clients from the tech, energy and chemicals, automotive and aerospace, retail, consumer, and life sciences and healthcare sectors. Tim publishes special reports and articles on key issues affecting global supply chains including the U.S.-China trade war, the impact of Japan-South Korea export controls on the semiconductor industry, and Chinese environmental and industrial safety policies.
Shehrina Kamal leads Resilience360’s Risk Monitoring function, where she spearheads the solution’s risk identification, monitoring and alerting capabilities. In this capacity, she manages a global team of analysts and is responsible for product development & strategy, intelligence coverage, and strategic partnerships. Shehrina has 11 years of logistics industry experience and a background in international development consultancy and communication. She studied Economics at North South University, Bangladesh and holds an MBA from Mannheim Business School, Germany.
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