The Noggin Blog

The risk of the novel coronavirus to global supply chains is significant, experts say. And it’s easy to see why. For one, there is no historical precedent for the potential impact of the coronavirus on increasingly complex, global supply chains.

Let me begin by observing that risk management appears to be at a similar state of maturity as was literacy in the 15th century Europe and in both cases technology and globalisation are the main driving forces for change.

When it comes to spending on compliance, companies aren’t shy. Every year, the average multinational will easily shell out millions on compliance, according to reporting in Harvard Business Review. In heavily-regulated sectors, that number is even higher. 

These aren’t the old days. Business leaders have finally gotten serious about managing topline risk at their companies. Just in time, too. Risk storm clouds have been gathering for a while now.