Supply chain disruptions: Two-thirds of all logistics companies affected by financial losses
- According to the current Logistics Hall of Fame Trend Survey in cooperation with the SCHUNCK GROUP, around 65 percent of the managing directors and entrepreneurs surveyed rate the risk of negative consequences for the logistics industry due to disruptions in the supply chain as high to very high.
- Diversification of suppliers is considered the most important means of hedging.
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Ismaning /Munich, August 24, 2023. More than 65 percent of all companies in the logistics sector have already suffered financial losses due to disruptions in the supply chain. This is the result of the current Logistics Hall of Fame Trend Survey in cooperation with the SCHUNCK GROUP. Likewise, 65 percent assess the general risk of also suffering financial damage in the future due to supply chain disruptions as high or very high and on a scale of one to ten they assigned seven to ten of the possible points. In an assessment of all the risks that could currently be dangers for logistics service providers, supply chain disruptions ranked third. A total of 39.1 percent rated this as a threatening risk.
The respondents rated the risks of cybercrime (69.6 percent) and the shortage of skilled workers (60.9 percent) as even more dangerous for companies. Political risks, natural disasters, business interruptions and the outbreak of a pandemic, among others, took the next places.
"Not only the Corona crisis has clearly shown us how quickly established processes in logistics can get out of sync if only one part of the complex process chain shows weaknesses," emphasizes Thomas Wicke, Managing Director of SCHUNCK GROUP. "The fact that two thirds of our surveyed companies have already experienced this first-hand is a clear signal to take this topic seriously and to think about possible protection," he continues and adds: "It is essential to take professional precautions against the greatest threats. Cybercrime, for example, remains a permanently high risk. Almost three quarters of managers see it that way."
More than 78 percent of respondents said they rely on supplier diversification to protect against supply chain disruptions, and 52.2 percent also rely on good inventory management and stockpiling. A comprehensive supplier assessment, coupled with good supplier management, is seen by 47.8 percent as a way to mitigate supply chain disruptions with as few consequences as possible for their own company.
The survey, which involves an executive C-level panel of selected managing directors, board members and entrepreneurs from the Logistics Hall of Fame network and the SCHUNCK Group, is conducted several times a year on changing topics. The survey presents an actual view on the mood of the industry and does not aim to be representative.
Background Logistics Hall of Fame: The Logistics Hall of Fame honors international personalities who have rendered outstanding services to the further development of logistics and supply chain management. The goal of the Logistics Hall of Fame is to serve as a global platform for documenting the milestones of logistics and honoring its movers and shakers, thus underscoring the importance of logistics for business and society. The Logistics Hall of Fame also presents the Logistics Leader of the Year Award to current pacesetters in logistics. In addition, the Logistics Hall of Fame recognizes innovative logistics projects by humanitarian organizations with the Lynn C. Fritz Medal for Excellence in Humanitarian Logistics. The sponsor is the Fritz Institute. The non-profit initiative is supported by politics, associations, media, business and science. Dr. Volker Wissing, Federal Minister for Digital and Transport, is the patron.
Sponsors: 24/7 ASSISTANCE, ADAC Truckservice, AEB, Working group logistics initiatives Germany, Baumann Paletten, BLG LOGISTICS, Federal Ministry for Digital and Transport, German Road Haulage, Logistics and Waste Disposal Association (BGL), German Association for Materials Management, Purchasing and Logistics (BME), Federal Association of Parcel and Express Logistics (BIEK), Federal Association of Forwarding and Logistics (DSLV), German Transport and Logistics Association (BWVL), Federal Logistics Association (BVL), Business+Logistic, COYOTE LOGISTICS, German Transport Forum (DVF), Duisburger Hafen (duisport), EPAL, Förderverein Logistics Alliance Germany, Fritz Institute (Donor), GARBE Industrial Real Estate, Gebrüder Weiss, Goldbeck, HHLA, HIAB, impact media projects, International Federation of Freight Forwarders Associations (FIATA), International Road Transport Union (IRU), Interroll Group, Krone, Lebensmittel Zeitung, LIP Invest, Locus Robotics, LOGISTIK-Kurier, LOGISTIC PEOPLE, LTG – Landauer Transportgesellschaft Doll, materialfluss, METRO LOGISTICS, pfenning logistics, PSI Logistics, RIO – THE LOGISTICS FLOW, Schnellecke Logistics, SCHUNCK Group, Seifert Logistics, SETLOG, SSI Schäfer, STILL (Donor), TGW Logistics Group, trans aktuell, Automotive Industry Association (VDA), Wiltsche Fördersysteme, Winner Spedition, WISAG.
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