Rethinking Risk and Opportunity in the Supply Chain

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Rethinking Risk and Opportunity in the Supply Chain

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A survey of 200 CPOs on the year behind us and the year ahead 

The COVID-19 pandemic of 2020 opened our eyes to the ever-changing conditions and uncertainty that exists in our world today. There are risks as well as opportunities across the supply chain, and CPOs are assessing the impacts of the past year, particularly with regards to supply chain disruption. Their mission is to figure out how to be agile to get ahead of future uncertainties. 

WBR and Coupa Software surveyed 200 CPOs to find out what keeps them up at night and how they are rethinking risk and opportunity in their supply chains to prepare for the year ahead. In the survey, we found a clear link between risk in the supply chain and visibility into areas that are most vulnerable to failure. In fact, less than a quarter (24%) of CPOs strongly agree that they have the right metrics to see and measure the health of their supply chains.

While the top supply chain risk concerns are operational risk and supplier risk, per the responses, CPOs report they lack confidence in identifying these risks in their supply chains. We also found that most CPOs do not think their functional leads and business units are properly equipped to manage risk. Almost all (99%) of CPOs agree that risk should be the responsibility of the entire business, not just the risk and compliance teams. Yet they are not confident in their organizations’ ability to manage risk, noting that IT, Procurement, Legal, and Finance are not adequately able to manage this risk. In this report, we also focus on key changes CPOs are planning to make for the year ahead, as well as opportunities to improve business reputation and create diverse and sustainable supply chains. Opportunities to enhance Environmental, Social, and Corporate Governance (ESG) initiatives abound. CPOs surveyed report that supplier diversity and inclusion is very important to all stakeholders in the business, especially to the board (81%) and investors (80%). 

The following report dives into these various key findings in three chapters: 

1. Health of the Supply Chain 

2. Managing Risk in the Supply Chain 

3. Opportunities & The Year Ahead 

We report on both quantitative and qualitative findings, with many valuable insights from leading CPOs to assess the current state of supply chain health and how CPOs are rethinking their supply chains to prepare for the year ahead. 

 

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