Risk Management Concern Rising at Ports as COVID Disruption Grows

The spread of COVID-19, and the economic and trade disruption the pandemic has caused, is prompting port managers to examine new ways to improve risk management and digital processes, according to a new survey by Remy InfoSource. TheThe 2020 iSpec Ports Industry Survey was undertaken during the height of worldwide economic lockdowns in the second quarter of 2020

It revealed that more than half (51%) of port executive respondents now identify risk management as the key area they would like to improve on in the future, up from 32% in the previous iteration of the iSpec Ports Industry Survey in 2018.

In 2018 the top two areas for improvements noted by ports and terminal executives were ‘shorter lead times’ and ‘more standardization’.

‘Risk management’ was also the leading reason pinpointed by respondents when asked to identify the most problematic issues they encounter when managing complex outsourced projects,”  said Pieter Boshoff, CEO of Remy InfoSource. ” In the 2018 iSpec Ports Industry Survey ‘tracking project compliance and delivery’ was the most problematic area identified by respondents.“I think it’s no surprise that in such an uncertain world the importance of risk management has increased dramatically.

“Disruption to supply chains has increased across the globe causing operational and investment uncertainty and, with social distancing rules, also changing the way we all conduct our business.

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Source: Material Handling & Logistics