DOWNLOAD RFP
Main menu
Customers

Supply Chain Resilience

Understanding Market Trends and Best Practices

COVID-19 has exposed brittle supply chains. When third parties are not included in supply chain resilience efforts companies leave themselves vulnerable to severe disruptions and other risks.

75%

of businesses reported experiencing a supply chain disruption related to the COVID-19 pandemic.

51%

Of organizations are not assessing the business continuity risk of their vendors.

62%

Of organizations are not assessing the financial viability of their third parties

52%

Of organizations are not assessing the operational risks of their third parties

A COMMON MISCONCEPTION:

Some organizations who do not have a physical supply chain assume they are immune to these risks. However, if they utilize a software vendor or other third party for any service, they have a digital supply chain that is vulnerable to cyber attacks, disruptions, and more.

RESILIENCE STEPS YOU CAN TAKE TODAY:

  • Identify who your vendors are, their roles in your company, and risks they bring to the table
  • Know your fourth, fifth, and nth parties (your vendors’ subcontractors)
  • Prioritize which vulnerabilities are at highest risk
  • Collaborate with vendors on digital supply chain resiliency
  • Keep internal stakeholds updated on any third-party related purchases

Learn more about supply chain resiliency by speaking with one of Aravo’s Experts!