Regardless of your products, your company most likely sources raw materials, parts, finished goods or packaging from foreign business partners. Leveraging business partners, as opposed to building their own foreign production capabilities, allows companies to shift suppliers to low-cost regions without worrying about their foreign investments. Every year the global supply chain and the flow of international goods continues to increase.
Nearly 75 percent of companies experienced at least one supply chain disruption in 2012, with an average of five, according to the 4th Annual Supply Chain Resilience 2012 Survey.
Say a prayer for Joclyn and Jeffrey Bard of Huntington, Long Island. They suffered through the ravages of Superstorm Sandy, as had millions of businesses and households in the northeast U.S. Licking their wounds, the Bards in mid-November filed a lawsuit seeking class-action status before the New York State Supreme Court. They want damages from Cablevision for lost service, saying the cable company should be offering automatic credits to customers.
New York state and New Jersey need at least $71.3 billion to recover from the devastation wrought by superstorm Sandy and prevent similar damage from future storms.
Hurricane Sandy made landfall in New Jersey on October 29, 2012, crashing against the coastline of New Jersey before barreling into New York City and most of the upper East coast.
The Business Continuity Institute has published a new report into supply chain resilience that finds that 73 percent of organizations recorded at least one supply chain disruption in 2011.
Catastrophe risk modeling firm EQECAT Inc. estimates $5 billion to $10 billion in insured losses and $10 billion to $20 billion in total economic damages from Hurricane Sandy.
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