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Too many UK businesses 'ignoring supply chain risks'
Many UK businesses are placing their business prospects at risk by failing to do enough to prepare for potential supply chain disruption, according to a KPMG report.
Speaking ahead of a conference exploring supply chain maturity, KPMG corporate advisory partner Richard Nixon said too many firms simply assume these problems will not affect them, despite a spate of natural disasters in recent memory causing problems for many companies.
The expert stated that some businesses are struggling with the complexity of modern supply chains, while others are relying too heavily on their suppliers to handle these issues, or assessing purchasing on a department-by-department basis, rather than looking at the whole business.
Given the number of companies going into liquidation at present, Mr Nixon said it is absolutely vital for managers to avoid leaving such matters to chance.
He explained: "As much as the current economic climate means that cost reduction is critical to business survival, organisations that cut corners around the supply chain will continue to struggle."
Last month, a report from Boston Consulting Group stated that business environments around the world are changing and evolving more quickly than ever, making strong leadership increasingly essential.
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