Report for Q1 2023 shows that global supply chains suffered nearly 4,000 disruptions, with bankruptcies rising by 240% year on year
Financial alerts, airport and labour disruptions and extreme weather events are among the supply chain risks to have seen a substantial increase in the past quarter, a report shows.
Resilinc, which offers supply chain mapping and risk monitoring solutions, has released Q1 2023 data showing the biggest disruptions impacting supply chain.
The data – compiled by the company’s EventWatchAI database – shows there were 3,821 disruption alerts across all industries and that “risk events” were up 8% compared to Q4 2022.
Compared to data from the same quarter in 2022, global bankruptcy alerts increased by 240%, with corporate restructuring events rising by 135%.
Zoning in on country results, the scale of financial problems are shown by the continued rise of UK insolvencies, which reached a 13-year high, and is set to remain a “prominent cause of disruption in future”, says the company.
Other notable Q1 trends include an increase in airport disruption, which was up 86% quarter on quarter. This was largely caused by labour strikes as well as worker shortages.