Enterprise risk has never been a higher priority for businesses, executives and procurement practitioners than right now in light of the COVID-19 crisis. The coronavirus disruption has only accelerated many enterprise risks — from cyberthreats, employee health and safety, and most certainly, to supply risks affecting suppliers in complex value chains.
While the COVID-19 pandemic is far from over, enterprises are looking beyond the current crisis with the hope of pandemic-proofing their supply chains and operations to build resiliency. But that view is too limited to build true resiliency. The next global business disruption crisis might be a pandemic, but it might also be something entirely different or so novel it's never been considered. Today's resilient enterprises need to embrace a mindset shift to view risk through a much wider lens.