At first sight, that seems to be to message from a new survey. I’ll bet you believe it about as much as I do.
The annual Horizon Scan just published by the Business Continuity Institute highlights unplanned IT and telecom outages as the top worry for business continuity managers this year. More than three quarters highlighted this as a concern.
In fact, IT accounts for the top three concerns with cyber attacks and data breaches coming second and third.
Not surprisingly, given the winter that we have had, adverse weather ranks fourth.
But what is surprising is that supply chain has dropped out of the top ten – only coming in 16th.
The BCI points out that this is despite increasing supply chain complexity featuring within the top five emerging trends, in addition to the recent BCI Supply Chain Resilience Survey, which revealed that 75 per cent of respondents experienced at least one supply chain disruption during the previous year.
So does this mean that supply chain risks really are receding?
Hardly. Managers might have become more mindful of some other concerns, but I see no evidence of a significant lessening in supply chain risk. In fact, many of the threats identified by business continuity managers could have a significant impact on organisations’ supply chains.
Relax? Not just yet.