Rethinking supply chains: The food and drink industry

Food and drink supply chains have grown in size, volume and complexity, in turn increasing the risks. Today’s complex supply chains increase vulnerability to both natural perils and manmade shocks, such as cyberattacks and geopolitical volatility, allowing risks to transfer between organizations, sectors and continents.

Lloyd’s and WTW have collaborated to provide real-life, practical insights into how organizations are responding to food and drink sector supply chain challenges, surveying and interviewing more than 275 risk, supply chain, and insurance practitioners.

Combining these perspectives with proprietary data and reports, thought leadership and third-party analysis, Lloyd’s is publishing Rethinking supply chains: The food and drink industry through its Futureset platform to offer insights to help build resilience into our ever-more uncertain and complex world.

Rethinking supply chains: Key findings on the food and drink sector

• The key risk drivers of most concern to the 275 food and drink companies surveyed and interviewed include:
  • Economic pressures
  • Climate change and sustainability
  • Labour availability
  • Geopolitical and political risk
  • Operational technology
  • Demand changes
  • Transport.
• A number of supply chain protection gaps were identified by comparing these risk drivers with a review of existing insurance coverages.
• When asked about their approach to insurance, global food and drink businesses had at least some insurance to cover their main risk areas, but there is a lack of alignment between the risk factors respondents said were the greatest threat to business success and the level of cover they have.

Discover insights to support improved supply chain resilience to empower food and drink organizations in optimising their risk protection in the face of ongoing volatility.

Download your free report by completing the short form at the top of this page.

This report – in collaboration with our WTW Research Network – is part of WTW’s Food and Drink Practice’s ongoing commitment to keeping pace with the changing risk landscape to help protect food and drink businesses and support your successful growth.

For support addressing your supply chain vulnerabilities, get in touch.

Contact

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Lucy Stanbrough

Head of Emerging Risks, WTW Research Network, WTW

email Email phone +44 20 3124 8508

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