No industry went unscathed by the pandemic. “COVID put supply chains through the ultimate stress test, and many did not demonstrate resiliency,” said Yvette Connor, Enterprise Risk Management Practice Leader at Grant Thornton.
But what about other, post-pandemic stress tests that will inevitably arise, stretching supply chains to their limits? Will enterprises be any better prepared for those?
Many enterprises take a “swim lane” approach to risk management, where enterprise groups stay in their areas — executive management, business line management, compliance, procurement, internal audit and others.