Page 60 - Risk Report 2024
P. 60
IRMSA
60 RISK REPORT 2024/25
Scenario:
What it can look like if it happens now
A major port shuts down indefinitely, with profound ripple effects on logistics, transport, and supply chains.
Eventually, results include disruption in the flow of goods, raw materials, and finished products, leading to
delays, shortages, increased costs, increased congestion on alternative routes, logistics bottlenecks, revenue
losses, job disruptions, decreased competitiveness, local and national economic decline, international trade
failures, loss of market share, contractual breaches, business closures, environmental damages, strain on local
communities, and ultimately social unrest.
Immediate resilience/emergency
preparedness: Medium impact in the
short term
Diversification Communication
Diversify supply chains to reduce reliance on Creating and maintaining transparent
single points of entry. communication channels with all stakeholders.
Optimisation Digitalisation
Streamline business processes to expedite Adopt digital technologies (e.g. predictive
clearances and minimise delays. analytics) to optimise supply chain management.
Continuity Testing
Conduct regular scenarios, and risk assessments, to improve business interruption responses.
