It’s time for another Craft Risk Savvy Report, powered by Craft’s robust platform to keep you informed with the latest updates and trends shaping the global supply chain. In this report, we cover important risk signals from late June into present day within the core industries affecting the global supply chain:

  • Transport
  • Technology
  • Healthcare
  • Retail
  • Energy & Utilities
  • Financial services
  • Manufacturing

This report provides just a glimpse of Craft’s extensive capabilities. Our platform lets you configure news and alerts from a comprehensive data fabric to create tailored, collaborative environments that deliver vital supply chain information while simultaneously filtering out irrelevant data.

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Perhaps the greatest disruption this month is the Crowdstrike-Microsoft outage that caused a global wave of IT outages last Friday morning, July 19. This lead to flight cancellations and disruption of various industries, including hospitals, banks, and stock exchanges. The outages were due to a software issue identified and fixed by cybersecurity firm CrowdStrike affecting Microsoft-based computers.

Emergency services, hospitals, and government agencies across several states experienced significant disruptions. Thousands of flights were canceled, with American Airlines, United, and Delta particularly affected. The FAA issued a global ground stop. The White House is monitoring the situation, and CrowdStrike’s stock plummeted nearly 22% due to the incident.

However, full system recovery could take time. Projected financial losses could exceed $5.4 billion.

Craft’s platform can help you monitor your supplier network to understand impact and stay ahead of disruption. Contact our team to take a risk assessment.

 


Transport Companies

Risks Identified in July

  • Over 25% of automotive and transportation companies tracked are high risk due to compliance violations
  • Almost 20% of automotive and transportation companies tracked have a medium to high cybersecurity risk
  • Over 30% of automotive and transportation companies tracked have medium environmental risk

Identify risky suppliers in your network

Recent Transport-Related Risk Alerts

BNSF derailment in Oklahoma leads to brief evacuation

A BNSF train derailed in downtown Woodward, Okla., involving eighteen cars carrying liquid asphalt and soybean oil. No injuries were reported, and the cause is under investigation. A brief evacuation was ordered… more

Paris Airports May Grind To A Halt Before 2024 Summer Olympics Begin

Airport worker unions in Paris are planning a strike just days before the 2024 Summer Olympics begin. The strike could significantly disrupt operations at Charles de Gaulle and Orly airports, impacting up to 350,000 daily… more

Lufthansa facing loss of €500m due to delays in aircraft deliveries

Lufthansa Group anticipates a €500 million annual loss from delayed aircraft deliveries, affecting operations into the next decade. The group awaits 229 ordered aircraft, crucial to replace grounded planes and… more

Russia Launches 20 Drones & 5 Missiles On Ukraine’s Odesa, Damaging Port & Energy Facilities

Russia launched a severe attack on Ukraine’s Odesa region, using 20 drones and 5 missiles that targeted critical infrastructure including ports and energy facilities. The assault resulted in casualties and significant damage… more

Transnet suspends shipping activity at some ports for safety reasons

Transnet has suspended shipping activities at several ports in the Western Cape and Eastern Cape due to severe weather conditions, including damaging winds and high sea swells… more.

Learn how a global shipping leader demystified their supply chain with Craft.

 


 

Technology Companies

Risks Identified in July

  • Over 40% of technology companies tracked have medium or high environmental risk
  • Over 20% of technology companies tracked have had at least one compliance violation within the last 3 years

Identify risky suppliers in your network

Recent Technology Risk Alerts

MOVEit legal liabilities, expenses pile up for Progress Software

The MOVEit data breach affected over 500 organizations and compromised the personal information of 37 million individuals, leading to significant litigation. Legal experts predict… more

State, local governments facing deluge of phishing attacks 

State and local governments are experiencing a significant surge in phishing attacks, with a 360% increase observed between May 2023 and 2024, according to research by… more

Digital Twin Software, Sensat Appoints Ian Black as Chief Operating Officer 

Sensat, a leading digital twin platform for infrastructure planning, has appointed Ian Black as Chief Operating Officer (COO). Ian has an impressive background in technology management at companies like Autonomy and Hewlett Packard (HP)… more

AI Industry May Never Earn Back Its $150 Billion Nvidia Chip Spend 

Companies might never recoup the $150 billion spent on Nvidia chips for AI. Cloud providers could invest $300 billion into AI hardware in 2024, with Nvidia receiving half. A significant payoff would require $600 billion in… more

Palestine protestors shut down Thales in Glasgow’s Govan 

Protesters have blockaded the Thales plant in Govan, demanding an end to UK arms sales to Israel. The company has a contract with Israeli defense contractor Elbit Systems, which supplies most of the drones and land-based equipment… more

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Healthcare Companies

Risks Identified in July

  • Over 50% of healthcare companies tracked have had at least one compliance violation within the last 3 years
  • Over 50% of healthcare companies tracked have medium to high environmental risk

Identify risky suppliers in your network

Recent Healthcare Risk Alerts

MN AG Office shares ID theft protection resources after healthcare cyberattack 

Minnesota officials urge victims of a February data breach at Change Healthcare, part of UnitedHealth, to use free credit monitoring and identity theft protection offered by the company. The breach could impact… more

Baxter Issues Urgent Medical Device Recall for Life2000 Ventilator Due to Potential Battery Charger Dongle Damage 

Baxter International Inc. has issued an urgent recall for Life2000 ventilators with an attached battery charger dongle due to charging issues. The recall follows reports of the devices failing to charge properly, with one serious injury… more

Delhi High Court temporarily bars Zydus Lifesciences from selling breast cancer drug 

The Delhi High Court has temporarily barred Zydus Lifesciences from selling its breast cancer drug Sigrima, a biosimilar of Roche’s Perjeta, due to a patent infringement lawsuit by… more

Bayer’s pharmaceuticals division plans to cut further managerial jobs 

Bayer’s pharmaceuticals division plans to cut additional managerial jobs to streamline operations and improve efficiency.The exact number of job cuts has not been disclosed, but the reductions will focus on… more

Cancer diagnosis device severely malfunctions in Israeli hospitals 

Roche reported a significant malfunction in cancer diagnosis devices to the Health Ministry, potentially leading to incorrect diagnoses and treatments for cancer patients. The malfunction affected devices used in… more

Want configurable alerts for the risks that matter most to your supply chain? Learn more about Supplier Risk Management from Craft.

 


 

Retail Companies

Risks Identified in July

  • Over 15% of retail companies tracked have had at least one compliance violation within the last 3 years
  • Over 20% of retail companies tracked have medium to high environmental risk

Identify risky suppliers in your network

Recent Retail Risk Alerts

Walmart had a new headache with its drone deliveries: gun owners shooting them out of the air 

Walmart faces challenges with its drone delivery program as incidents of gun owners shooting down drones emerge. In a recent case in Florida, a man shot a Walmart-affiliated drone, claiming surveillance… more

Ivanhoe Sells New Zinc Mine’s Output to Trafigura, China’s Citic 

Ivanhoe Mines Ltd. has commenced production at the Kipushi zinc mine in the Democratic Republic of Congo, expecting annual output between… more

Beverages at Walmart recalled after 9 sick, 5 in hospital

A nationwide recall has been issued for certain Silk and Great Value brand plant-based refrigerated beverages sold at Walmart and possibly other stores due to potential contamination with… more

ZMI Management Inc. Partners with FFF Enterprises as Exclusive DistributorZMI Pharma, Inc. has acquired ZIMHItm from DMK Pharmaceuticals and partnered with FFF Enterprises as the exclusive distributor. ZIMHItm, an opioid antagonist for overdose emergencies, features the highest dose of… more

TJX Cos. looks south of the border for growth opportunities

TJX Companies is expanding into Mexico through a joint venture with Grupo Axo, where TJX will own 49% and Axo 51%. This venture will encompass over 200 off-price stores under Axo’s brands like… more

Curious how we gathered this information? Explore Craft’s platform’s capabilities.

 


 

Energy and Utility Companies

Risks Identified in July

  • 30% of energy and utility companies tracked have medium or high environmental risk
  • Over 55% of energy and utility tracked companies have high regulatory risk

Identify risky suppliers in your network

Recent Energy and Utilities Risk Alerts

BHP shuts down Nickel West, threatening 3000 jobs

BHP’s decision to shut down its Nickel West operations in Western Australia threatens approximately 3,000 jobs. The closure, attributed to global supply chain challenges and a decline in demand for battery metals, impacts… more

Eni withdraws assets in Cyprus EEZ, delays in the country development and exploitation of gas are expected

Eni’s plan to sell its stake in natural gas assets in Cyprus’s Exclusive Economic Zone (EEZ) may impact the nation’s energy strategy. . This decision raises concerns about future gas exploration and development in Cyprus, potentially affecting… more

South Korea’s Largest Coal Mine Closes, Marking End of an Era

South Korea’s largest coal mine, Samtan’s Taebaek Mine, has ceased operations, marking the end of a significant era in the country’s industrial history. The mine’s shutdown reflects a broader shift in energy policy towards… more

Rosedale refinery cuts ties, losses with ExxonMobil

The Rosedale refinery, formerly operated by ExxonMobil, has severed its ties due to financial losses. The refinery will now operate independently under new ownership, navigating its future in California’s competitive… more

Learn how one major Asian utilities and energy company optimizes its supplier visibility with Craft supply chain intelligence.

 


 

Financial Service Companies

Risks Identified in July

  • Over 55% of financial service companies tracked have high regulatory risk
  • 30% of financial service companies tracked have medium or high risk for creditworthiness

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Recent Financial Services Risk Alerts

Pirates, Middle East instability and drought disrupt the world’s ports 

Ports in Algeciras, Spain, and Tanger Med, Morocco, are strained due to global shipping route disruptions, particularly from increased risks in the Gulf of Aden and the Red Sea, leading to a … more

Federman & Sherwood Investigates Prudential Financial for Data Breach

Federman & Sherwood, a law firm, has launched an investigation into Prudential Financial following a reported data breach. The breach allegedly compromised sensitive information, potentially affecting the privacy and security of… more

Lloyds Bank reveal plans to close Stanley branch in 2025

Lloyds Bank has announced plans to close its Stanley branch in 2025, citing a shift towards digital banking and declining in-person transactions. This decision is part of broader efforts to adapt to changing customer preferences and… more

More than 100,000 customers of fintech apps like Yotta, Juno and Copper have been locked out of their accounts since May

Synapse is working towards releasing customer deposits after a regulatory action froze accounts earlier in the year. The company is collaborating with regulators to resolve issues related to its compliance practices, which led to… more

Learn how to navigate through challenges in financial services or understand financial risks of your suppliers.

 


 

Manufacturing Companies

Risks Identified in July

  • Over 40% of manufacturing companies tracked have medium or high environmental risk
  • Over 25% of manufacturing companies tracked have high regulatory risk
  • Nearly 30% of manufacturing companies tracked have low creditworthiness
  • Over 30% of manufacturing companies tracked have medium to high risk related to employee health and safety

Identify risky suppliers in your network

Recent Manufacturing Risk Alerts

Vietnamese enterprises suffer from growing sea freight prices 

Vietnamese export-import enterprises are grappling with soaring sea freight costs, which have more than doubled in recent months, severely impacting product prices. A shortage of containers is exacerbating the situation, leading to… more

Teck Coal Limited faces five charges for allegedly dumping harmful substances 

Teck Coal Limited faces five charges from Environment Canada for allegedly depositing harmful substances into waters frequented by fish in… more

Truck mirror shortage hinders Navistar Q2 sales

Navistar saw a 31% year-over-year sales drop in Q2 2024, selling 16,030 trucks and buses compared to 23,243 the previous year. The decline was due in part to a shortage of truck mirrors caused by a supplier’s… more

MSMEs are struggling to finance ESG integration despite contributing 3-4% of India’s carbon emissions 

MSMEs in India, responsible for 3-4% of the country’s carbon emissions, are facing challenges in integrating ESG practices into their operations, despite pressure from global customers. Many are being asked for ESG reports… more

Chinese lithium major Tianqi Lithium sinks into red despite EV growth 

Companies like Ganfeng Lithium and Tianqi Lithium are struggling due to falling lithium prices, oversupply issues, and high costs. These challenges are compounded by geopolitical tensions and regulatory uncertainties affecting… more

Need to identify high-risk suppliers in your supply chain? Learn about supplier intelligence with Craft.

 


We hope these insights have enhanced your understanding of the global supply chain, making you evermore risk savvy.

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