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.
Subscribe to our newsletter if you find this information helpful.
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
Watch Craft’s webinar on building a Resilience Model with cutting-edge technology.
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 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’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
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
Identify risky suppliers in your network
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
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
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 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.
Subscribe to our newsletter for more insights.