Supply Chain Security Services Are in Hot Demand to Help Manage Disruptions
January 10, 2022
Key Facts on Supply Chain Security Services and Disruptions Across North America
Supply chain security services can secure every element of your business. Ongoing supply chain disruptions across the globe have resulted in a surge in demand for security services. In fact, in the last ten years, the security service industry in the United States has swelled to a remarkable $48.14 billion in 2021, a 30% increase from 2011. Businesses have been overwhelmed with supply chain challenges in 2021, including theft, delays, COVID-19 outbreaks, and labor disruptions. The efforts you take to manage and secure your supply chain will pay dividends in the long run, securing your relationships and ensuring that your goods always meet their intended target.
2024 is expected to remain the same in regard to North American supply chain disruptions. The preparations that business owners make now will ensure a successful economic rebound and increase your business’ productivity throughout the new year.
Supply Chain Disruptions: Key Statistics for Business Owners
Supply chain management was put in the spotlight during the COVID-19 pandemic, and global congestion and delays meant that precious cargo was often left vulnerable to theft. In the United States, large businesses lost close to $228 million to supply chain losses attributed to crime, with that number expected to increase.
More importantly, however, just over 20% of businesses in North America have taken proactive efforts in supply chain management, with only 6% of companies reporting full visibility of their supply chain. Business leaders should be looking for proactive rather than reactive measures to ensure that their supply chain is secure in the new year and beyond. Managing your losses with supply chain security not only maintains your bottom line but also helps to maintain your reputation with the vendors, clients, and customers you serve.
Five Key Questions Answered
Find answers to the most common questions related to security services and supply chain disruptions relevant to business owners across North America.
What Supply Chain Disruptions are Expected in 2024?
Ongoing congestion and delays are expected due to North America’s ongoing labor shortages. Reasons for these disruptions include instances of crime and theft, COVID-19 outbreaks, early retirement of workforces, and labor disruptions such as strikes and lockouts. Much of the same is to be expected in the new year. Supply chains also remain vulnerable to natural disasters, including floods, hurricanes, tornados, and earthquakes.
How Can Security Services Help with Supply Chain Disruptions?
Security services, including access control systems, physical security guards, criminal background checks, and supply chain risk analysis, can help mitigate losses and secure supply chains. Security services can deter fraud within your own business and spot bad actors before they plan theft or other instances of crime.
Why Do Supply Chain Disruptions Result in Increased Instances of Theft?
When precious cargo that is shipped by land, sea, rail, or air is left standing or unattended, it allows bad actors the time to organize and plan their crimes carefully. A secure supply chain that is efficient and in constant motion makes crimes of opportunity much more difficult.
What Industries Are Expected to Experience Supply Chain Disruptions?
Well over 90% of businesses in North America are expected to experience some form of supply chain disruption. Every industry is vulnerable, but the following are most at risk:
- Automotive industries, including electric vehicle production
- Computer, technology, and semiconductors
- Precious metals, mining, gasoline, coal, and other natural resources
- Grocery, fast food, and farming
- Manufacturing
- Construction
- Healthcare and related industries
- Hospitality, including airlines, hotels, and recreation
- Transportation, logistics, and warehouses
- Retail, fashion, and other consumer goods
- Arts, entertainment, and film industries
What Happens if a Supply Chain is Not Secured?
A business’ supply chain that has no security or management efforts could experience a serious disruption. The results could be catastrophic in nature and include financial loss, broken relationships with vendors, and mistrust with customers that could put a company’s viability at risk.
AFIMAC Security Services That Help to Address Supply Chain Disruptions
Address the complexity of your business’ supply chain and avoid losses with security services that can help manage and identify risks and offer proactive measures that mitigate losses. AFIMAC Global regularly works alongside some of the world’s top businesses to offer far-ranging security services, background checks, and temporary labor solutions for any industry. Security services provided by AFIMAC can be deployed in a matter of hours, helping to address any unexpected supply chain risk.
Contact us directly to learn more about supply chain disruption, security services, and labor issues that are tailored to your needs.
