Most supply chains are underprepared for big disruptions, Dun & Bradstreet finds

Small- and mid-sized companies are underprepared for the next supply chain disruption, according to a report from Dun & Bradstreet. The firm’s Global Business Optimism Insights (GBOI) found that while all businesses in advanced economies identify business continuity, operational resilience, and crisis management as a top risk for 2024, only large businesses are paying attention to strengthening their supply chains as a priority. For small businesses, growth in customer base tops all other priorities, with strengthening of supply chains not even among their top five.

As supply chain continues to grow more complex, however, it will be imperative for businesses of all sizes to address their supply chain challenges. This starts with improving communication among suppliers or even diversifying their supply chains. Those who ignore the warnings are leaving their businesses vulnerable to reputational risk and lost profits.

“Buyers are accepting a disproportionate amount of risk by not doing some of these simple things,” said Steve Yurko, CEO at apexanalytix, a provider of supplier management solutions. “It really is accepting more risk than they should.”

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