P&SC LIVE New York: Supply Chain Risk & Resilience

The final panel of Procurement & Supply Chain LIVE New York, the Supply Chain Risk and Resilience Forum, brought together three industry leaders to explore the challenges and opportunities in building resilient supply chains. Hosted by Neil Perry, the panel featured Sandeep Bhide, Vice President of Product Management at ProcessUnity, Kathy Presto, Chief Procurement Officer at HH Global, and Darcy MacClaren, Chief Revenue Officer of SAP Digital Supply Chain. Their insights reflected a shared understanding of the growing complexities of supply chains and the critical role of technology in enhancing risk management.

Navigating an increasingly volatile environment

The conversation begins with an overview of the current pressures on supply chains. Sandeep highlights that companies are facing increased complexity and visibility challenges as they work to adapt to new risks. “It really depends on what the goals of a company are—whether improving efficiency, agility, or resilience,” he explains, adding that the rise of digital transformation, sustainability, and cost optimisation are key areas where companies must focus.

Kathy echoes these sentiments, noting the importance of assessing risk at a country level, particularly in an era of geopolitical tensions, economic instability, and evolving regulations. Her team’s strategy involves assigning a risk score to each country based on multiple factors, from human rights to political stability, to make informed supply chain decisions. “We look at nearshore, onshore, and offshore strategies to evaluate the risk when buying products for our clients,” she says.

Embracing technological advancements

The panel moves on to discuss the role of technology in bolstering supply chain resilience, with AI emerging as a key enabler. Presto notes how her company’s new supplier relationship management (SRM) system consolidates various risk metrics, allowing her team to monitor and respond to alerts in real time. The system integrates dozens of indices and algorithms to provide comprehensive supplier ratings based on multiple criteria, from business ethics to environmental practices.

Darcy elaborates on the three key pillars of SAP’s approach to risk and resilience: connected, contextual, and collaborative. “You need an end-to-end view of your organisation that is connected and can contextualise the information coming in,” she explains. Darcy also highlights the advancements in AI-driven tools that move supply chains from optimised to adaptive, and eventually towards fully autonomous systems. “Generative AI and co-pilots will help manage the complexity and volatility of supply chains,” she says.

Building strategic partnerships and data-driven decision making

The panel emphasises the critical role of strategic partnerships in achieving supply chain resilience. Darcy describes how collaboration, even among competitors, can be essential in industries like automotive, where shared suppliers are common. “It’s about compliance, transparency, and visibility across organisations,” she notes. Sandeep adds that partnerships should include robust contingency planning from the start to effectively manage shared risks.

Another major theme was the need to harness data effectively. As Neil points out, data is the lifeblood of intelligent decision-making. Kathy shares how her SRM system provides a global supplier dashboard that her team accesses daily to identify and address supplier risks. Meanwhile, Sandeep stresses the importance of predictive analytics and scenario analysis in managing supply chain vulnerabilities. “Data must be contextualised to make better decisions,” he advises, warning against relying solely on raw information without understanding its implications.

Looking to the future: Emerging trends and technologies

As the discussion turns towards future trends, the speakers agree that AI and machine learning will continue to be central to supply chain resilience. Kathy underscored the importance of acquiring up-to-date legislative data around sustainability and ESG metrics, given the rapidly evolving regulatory landscape. “Anyone who can get their hands on good legislative data will be incredibly successful,” she predicts.

MacClaren highlights the growing trend towards automating data integration and response processes. She sees a future where supply chains leverage quantum computing capabilities to process data faster and more accurately. “It’s all about merging risk data and assessment data to automatically generate better solutions,” she says.

Sandeep concludes by pointing to cybersecurity as a persistent challenge for supply chains, emphasising the need for companies to address emerging threats. “Cyber threats are not going away,” he warns, stressing the importance of maintaining robust security frameworks in an increasingly interconnected world.

The panel provided a comprehensive overview of the challenges facing today’s supply chains and the solutions available through technology and collaboration. As businesses strive to build resilience in a volatile environment, the key takeaway from the discussion was clear: organisations must adopt a proactive approach to risk management, leveraging technology, data, and strategic partnerships to navigate the uncertainties ahead.

Essential diary dates for 2024 and 2025…

Discover the essential diary dates for Procurement Magazine and Supply Chain Digital, as well as its sister publications – Manufacturing Digital and Sustainability Magazine.

2024 diary dates:

• Manufacturing & Mobility LIVE | 6 November 

2025 diary dates: 

• Procurement & Supply Chain LIVE Singapore | 11 February 
• Procurement & Supply Chain LIVE: Scope 3 | 5-6 March
• Sustainability LIVE: Net Zero | 5-6 March  
• Procurement & Supply Chain LIVE Dubai | 29 April 
• Procurement & Supply Chain LIVE Chicago | 4-5 June 
• Manufacturing & Mobility LIVE Chicago | 4-5 June 
• Procurement & Supply Chain LIVE London | 23-24 September 
• Procurement & Supply Chain Awards | 24 September 

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