Supply chain risks in the spotlight: Effects of Hanjin Shipping filing bankruptcy protection
SEPTEMBER 6, 2016
According to sources, Stevedores are demanding advance payment in cash. Lead times are in weeks and months in cases where manufacturing is outsourced to firms on the other side of the earth. However, a 2014 report by University of Tennessee on managing risk in global supply chains points out that 90% of the firms surveyed do not quantify risk when outsourcing production! How long will you be able to recover your supply through alternate sources or from the impacted supplier?