Home / Knowledge / News / Apparel/Garments / Risk exposure highest for apparel supply chain: Report
Risk exposure highest for apparel supply chain: Report
19
Mar '15
At 85.6 per cent, the proportion of supply chains exposed to elevated, high or severe risk of natural disaster is highest for the apparel sector, as it has a high proportion of manufacturing and raw material sourcing based in politically and geologically unstable regions, according to research released by BSI, the business standards company and the Business Continuity Institute (BCI).
 
In its report, BSI says a third (35 per cent) of businesses in the manufacturing industry are extremely concerned about potential supply chain disruption.
 
More than three quarters of manufacturing firms (77 per cent) report increasing supply chain complexity as the fastest growing risk in business continuity, with malicious attacks via the Internet (68 per cent) and increased regulatory scrutiny (58 per cent) taking second and third places, the research concludes.
 
The research shows that suppliers operating in riskier countries are the fastest growing business continuity risk. However, risk exposure varies by sector. The apparel sector (85.6 per cent) leads the sectors with the proportion of supply chains exposed to elevated, high or severe risk of natural disaster, followed by automotive (53 per cent) and aerospace (51 per cent) sectors.
 
Shereen Abuzobaa, commercial director at BSI Supply Chain Solutions said: “Our data shows an alarming percentage of suppliers in a variety of the industries are based in areas with significant risk of natural disaster or man-made disruption such as these.”
 
“Our experience shows that while companies are aware of and test for internal risks, they are failing to map or assess risk effectively across their supply chain. More often than not, only the first tier of suppliers is considered with no thought given to those further down the supply chain. Testing and assessing every supplier across every tier is prohibitively time consuming for businesses. By concentrating on higher risk suppliers, companies can be more effective and confident in mitigating risks,” Abuzobaa adds.
 
For business continuity planning, BSI offers ten tips: identify critical business functions, remember the seven ‘P’s (providers, performance, processes, people, premises, profile (your brand) and preparation), understand and track past incidents with suppliers, assess and understand vulnerabilities and weak points, agree and document your plans, make sure plans are communicated to key staff and suppliers, try your plans out in mock scenarios, expect the unexpected, make sure your continuity plans are nimble and can evolve quickly, and make sure you are not just ‘box-ticking’.
 
BSI Supply Chain Solutions is the leading global provider of supply chain intelligence, auditing services, audit compliance and risk management software solutions, and advisory services. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

Charge 1p per garment to tackle fast fashion: British MPs

Apparel/Garments | On 21st Feb 2019

Charge 1p per garment to tackle fast fashion: British MPs

A panel of British parliament members cutting across party lines...

Chinese textile city to harm Egypt's domestic industry

Textiles | On 21st Feb 2019

Chinese textile city to harm Egypt's domestic industry

Setting up of a Chinese textile city in Egypt will severely harm the...

Pakistan's textile exports up 1.19% in July-Jan FY19

Textiles | On 21st Feb 2019

Pakistan's textile exports up 1.19% in July-Jan FY19

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search