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Published in:
2020 | OriginalPaper | Chapter
Risk: Predicting the Future and Acting on It
Authors : Wolfgang Schnellbächer, Daniel Weise
Published in: Jumpstart to Digital Procurement
Publisher: Springer International Publishing
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Abstract
The world is becoming increasingly interconnected, which creates complex interdependencies in global supply chains. At the same time, uncertainty is growing, with companies being exposed to a wide range of risks threatening their business. Chinese factory closures due to natural disasters or labor strikes in South Africa plant cause standstills in Germany and trade barriers increase sourcing costs. The consequences are significant: The insurance company AON estimates noninsured costs of $134 billion from natural disasters in one year alone.