Supplier planning errors 'impacting UK businesses'
Published Date: 03/07/2012 16:05:50
Supplier planning errors are costing UK small business insurance customers dear, new research has suggested.
According to Zurich's The Weakest Link: UK PLC Supply Chain report, disruptions in the chain are typically impacting companies by £200,000 a year.
It was demonstrated that 88 per cent of firms have experienced trouble of this type in one form or other, with the average wait caused by such mishaps standing at five weeks.
The most common causes of the delays were found to be product quality incidents, unforeseen IT power outages and adverse weather conditions.
Nick Wildgoose, global head of supply chain at Zurich, noted: "The lack of preparation and business continuity planning amongst businesses, particularly those who are highly dependent on suppliers, is alarming."
Mr Wildgoose pointed out this problem still persists even though a number of major disruptive events - such as the Japanese tsunami and the volcanic ash cloud - have brought the issue to the fore.
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