Risk management is always a concern within the supply chain, and even more so now given the ongoing worldwide pandemic.
The study team found that 51% of shippers said they believe they have a comprehensive, well-developed risk management process. Only 45% of shippers said their risk management processes extend into multiple layers or tiers of suppliers downstream and upstream into customer networks, which is likely to change as shippers and 3PLs look to improve t their readiness and continuity planning process.
Both shippers and 3PLs said they believe it is important for 3PLs to have the ability to respond proactively and react. However, respondents placed less emphasis on the need for continuous improvement and the need for effective automation.
Most shippers (93%) and 3PLs (98%) agreed that over the last three years, it has become even more critical for 3PLs to develop the capabilities to respond to customers more quickly with accurate and timely information. Additionally 63% of shippers and 79% of 3PLs agreed that 3PLs might be forced to operate without complete or accurate information from shippers, making the situation even more challenging. What's more, 66% of shippers said it is important for 3PLs to provide effective communication with timely information to appropriately identify risk levels.