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Risk in Context Podcast: Building nimble supply chains to mitigate current and future risks

In this episode our hosts discuss the wide range of challenges that could disrupt supply chains and some of the actions that senior leaders should consider to mitigate evolving and emerging supply chain risks.

Today’s interconnected global supply chains are vulnerable to a multitude of risks stemming from geopolitical and geoeconomic conflicts, including the introduction of tariffs and counter-tariffs, natural catastrophes, and climate change. This web of risks can cause disruptions that lead to delays, shortages, and increased costs.

The complexity and fragility of supply chains is often compounded by limited visibility into upstream suppliers, making it difficult to assess potential vulnerabilities and respond proactively.

The potential implications of this lack of visibility underscore the importance of robust risk mitigation strategies and business continuity plans. By gaining a clearer understanding of their entire upstream supply chain, using tools like Marsh’s AI-powered Sentrisk, organizations can identify challenges early, evaluate their possible impacts, and implement effective mitigation plans. With a better understanding of supplier sites, organizations can utilize other tools to overlay risks to identify potential disruptions, including through real time alerts.

In this episode of Risk in Context, Karl Bryant, Senior Engagement Lead within Marsh’s Strategic Risk Consulting Practice, speaks with Amy Barnes, Marsh's Global Head of Energy and Power, who also heads Marsh's Climate Change and Sustainability Strategy, Jason Brewer, Lead Meteorologist within Marsh McLennan Agency, and John Davies, Commercial Director for Marsh McLennan's Sentrisk. They discuss the wide range of challenges that could disrupt supply chains and some of the actions that senior leaders should consider to mitigate evolving and emerging supply chain risks.

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Key takeaways

Account for evolving challenges

Forward-looking risk management considers how changing risks, for example shifting extreme weather patterns, could impact manufacturing inputs and logistics, requiring climate projections and regional hazard forecasts to prepare for potential future disruptions.

Develop dynamic business continuity plans

Resilient supply chains require comprehensive risk mitigation and response plans that are regularly tested and updated and can be swiftly activated, ensuring rapid response even to unforeseen events.

Embrace technology-driven risk assessments

Innovative data analytics and risk scoring models together with the ability to improve supply chain visibility, available through Sentrisk 2.0, enable businesses to identify vulnerabilities that could otherwise expose them to operational and reputational risks.

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