Chemical, Oil and Gas supply chain concerns
The chemical, oil and gas sectors are faced with specific risks, such as supply chain terrorism, sea piracy, and natural disasters. The geopolitical risks from where these products originate represent material in-transit risks to the corporations operating in these supply chains. An incident in any one of these sectors’ supply chain could cause damaging effects to the environment and to the company’s brand, workers and consumers. These sectors must have risk management and recovery programs in place to ensure they are prepared in the event of a disaster, or terrorist attack. It’s also important that the chemical, oil and gas companies have complete visibility into their suppliers’ practices to make sure they remains compliant with security requirements, GMP regulations, and environmental policies.