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Plotting a course through supply chain disruptions during peak seasons and beyond

As the maritime and logistics industry faces both evolving and emerging risks, there is an increased need for both short- and long-term planning to build a resilient supply chain infrastructure.

Stretched supply chains, changing consumer preferences, and a shift to online retail are putting increased pressure on marine, cargo, and logistics companies, which are integral in the delivery of items from their point of origin to end customers.

As the maritime and logistics industry faces both evolving and emerging risks, there is an increased need for both short- and long-term planning to build a resilient supply chain infrastructure. And this has to take place well ahead of peak seasons. But as global supply chains become increasingly interconnected and complex, they can be impacted by a growing number of challenges, requiring an agile approach to addressing risks and a strategy centered around enhancing resilience.

In this episode of Risk in Context, Marcus Baker, Marsh’s Global Head for Marine, Cargo, & Logistics, speaks with Janelle Griffith, the Leader of Marsh’s North American Logistics Practice, Dirk Segers, the Head of Marine, Cargo, & Logistics for Northwest Europe and Switzerland, and Thiago Gonçalves, the Head of Marine, Cargo, & Logistics for Latin America and the Caribbean. They discuss the evolution of the maritime and logistics ecosystem, the multiple challenges that are impacting global supply chains, and share opportunities and actions that risk managers and senior leaders should consider in order to build a more resilient and agile organization.

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Key takeaways

Building resiliency requires an agile mindset.

Mitigating the numerous challenges that can impact and potentially even derail today’s interconnected supply chains requires both short- and long-term planning ahead of peak months and the ability to remain agile in order to retain a competitive advantage.

Customer shifts introduce new challenges and opportunities.

Increased demand for short delivery times has led companies to store more products in warehouses to increase availability. This is leading to accumulation concerns and the need to purchase sufficient insurance to cover potential risks.

Visibility is integral to risk mitigation.

It is critical for logistics organizations to have clear visibility into their supply chain, well beyond the first tier, allowing them to identify and address potential risks. Technology is instrumental in improving visibility and allowing for early action.

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