While recent natural catastrophes have highlighted the risks weather poses to a company's supply chain, technology failure and cyber attacks represent an even greater threat that many companies overlook, a new report says.
In its "Tomorrow Never Knows: Emerging Risks" report, Guy Carpenter says, "Few aspects of our personal or commercial lives are now technology free. And yet, most individuals and businesses only realize the extent of this dependency when they are negatively affected by a technology-driven or technology-dependent event."
This reality extends to a company's supply chain, Guy Carpenter says. "Due to technological innovation and advances, many parts of a company's or industry's supply chain may have become interconnected and automated. Technology is indeed a critical enabler of a supply chain's operations," states the report.
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