Welcome to the Risk Savvy Report, your go-to source for the latest insights on global supply chain trends to keep you informed and ahead of the curve. In this edition, we cover top supplier risk signals for September 1 – 11, 2024 across core industries impacting the global supply chain.
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Before we explore industry-specific trends, here are some key global supply chain risk signals you should be aware of:
Study Finds Increase in Ransomware Attacks in the U.S.
Ransomware attacks, particularly targeting U.S. organizations, have escalated, with incidents involving U.S. entities rising from 51% to 65% in a year. The financial sector, including banks and credit unions, remains a primary target, with recent significant disruptions including a widespread attack on… more
Supertyphoon Yagi forces Vietnam airport closures, including Hanoi
Supertyphoon Yagi caused significant disruptions in Vietnam and Hong Kong, leading to the closure of four Vietnamese airports and the cancellation of around 310 flights. The storm also affected industrial operations, including those of Apple suppliers. In response, Vietnam implemented … more
Strike looms over Port of Baltimore as wage negotiations reach crisis point
The dockworkers’ union, represented by the International Longshoreman’s Association (ILA), and shipping companies are facing a critical juncture as their six-year contract is set to expire at the end of the month. With the contract expiration looming, ILA leaders, including President Harold Daggett, have… more
Cyber attacks affect Wertach clinics in Bavaria and London transport company
Recent cyberattacks have disrupted operations in various sectors, with significant impacts observed at Wertach clinics in Bavaria and Halliburton in the US, as well as Transport for London. Wertach clinics suffered severe operational hindrances due to a ransomware attack that led to… more
US port talks kick off in bid to avoid economy-disrupting strike
The ongoing labor negotiations between the East and Gulf coast dockworkers’ union and port employers could potentially disrupt major US ports, affecting supply chains and economic activities. This comes at a time when the shipping industry is already experiencing heightened challenges due to global… more
Craft’s platform can help you monitor your supplier network to understand supplier risk and stay ahead of disruption. Contact our team to take a risk assessment.
Manufacturing
Industry Risk Overview for September
1,128 overall risk signals from manufacturing companies tracked:
- 58 ESG
- 590 Security
- 365 Financial
- 115 Regulatory
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Recent News
U.S. reports 28th death caused by exploding Takata air bag inflators
A 28th death in the U.S. has been attributed to the exploding Takata airbag inflators, following a 2018 incident in Alabama involving a Honda vehicle. The Takata inflators, which use ammonium nitrate to inflate the airbags rapidly during a crash, can become dangerous over time if… more
HR Ministry opens probe into slave labour claims against contractor for Sony, Panasonic and Daikin
The Manpower Department in Malaysia has initiated an investigation into Kawaguchi Manufacturing Sdn Bhd, a contractor for Sony, Panasonic, and Daikin, after allegations of slave labor practices. The investigation was spurred by a complaint from rights activist Andy Hall and involved a raid on… more
US Fears Nippon Bid for US Steel Could Hit Vital Steel Supplies
The proposed $14.9 billion acquisition of U.S. Steel by Nippon Steel has raised national security concerns from CFIUS, citing potential reductions in U.S. steel production crucial for infrastructure. Nippon Steel countered by promising significant investments to boost U.S. operations and no… more
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Technology
Industry Risk Overview for September
659 overall risk signals from technology companies tracked:
- 31 ESG
- 406 Security
- 178 Financial
- 44 Regulatory
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Recent News
Apple and Meta are ramping up their feud over who is in charge of protecting kids
Meta and Apple are clashing over the responsibility for age verification and parental consent on social media platforms like Instagram. Meta suggests that Apple and Google could better manage these safeguards at the app store level, but Apple is resisting this idea, highlighting… more
Nvidia’s stock experienced a significant drop, with a single-day decline of 9.5%, erasing $279 billion in market value, the steepest drop for any U.S. company. This downturn occurred after Nvidia, once the world’s most-valued company, saw a 20% decrease in its share price from its peak on… more
Automotive & Transportation
Industry Risk Overview for September
602 overall risk signals from automotive & transportation companies tracked:
- 4 ESG
- 224 Security
- 262 Financial
- 112 Regulatory
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Recent News
House votes to ban Gotion’s EV batteries from Homeland Security
The U.S. House of Representatives has passed legislation aimed at reducing dependency on foreign-made electric vehicle (EV) batteries, specifically from companies like Gotion, which are suspected of using forced labor and contributing to the surveillance apparatus of the Chinese… more
National Transport Strike in Italy on September 9, 2024
On September 9, 2024, a national transportation strike disrupted public services across several major Italian cities including Rome, Milan, Naples, Turin, Bologna, Genoa, and Bari. The strike, organized by multiple unions, demanded improvements such as salary increases, worker protections… more
Transport strike in Colombia begins to affect bilateral trade with Venezuela
A national transportation strike in Colombia, which began three days ago, is significantly disrupting trade with Venezuela due to blocked roads. The strike was triggered by the Colombian government’s decision to increase diesel prices gradually, a move that transporters have vehemently opposed. This has… more
King’s Cross station: major disruption after broken rail
King’s Cross station in London is facing significant disruptions due to a broken rail near Hatfield, Hertfordshire, affecting service since approximately 1:30 PM the previous day. The issue has halted six major rail routes into the station, and delays are expected to continue until the end of… more
Big crisis at Audi: Employees confiscate car keys
Workers at Audi’s factory in Brussels have seized the keys to 300 finished cars as part of a strike due to uncertainties about the plant’s future. The employees took this drastic step after failing to reach an agreement during a meeting with management about the Volkswagen Group’s decision not… more
Learn how a global shipping leader demystified their supply chain with Craft.
Healthcare
Industry Risk Overview for September
69 overall risk signals from healthcare companies tracked:
- 19 ESG
- 25 Security
- 15 Financial
- 10 Regulatory
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Recent News
FDA hits Abbott FreeStyle Libre 3 recall with Class I tag
The FDA has classified Abbott’s recall of its FreeStyle Libre 3 sensors as Class I, indicating a serious health risk. These sensors, part of the FreeStyle Libre 3 continuous glucose monitoring system, were found to occasionally provide incorrect high glucose readings, which could lead to severe… more
Edwards Lifesciences starts global layoffs
Edwards Lifesciences has started layoffs worldwide after selling its Critical Care business for $4.2 billion. The layoffs affect about 3% of its workforce, totaling approximately 540 employees. This decision follows the transfer of 4,500 employees to Becton, Dickinson and Co. as part of… more
Get configurable alerts for the supplier risks that matter most to your supply chain? Learn more about Supplier Risk Management from Craft.
Retail
Industry Risk Overview for September
66 overall risk signals from retail companies tracked:
- 1 ESG
- 45 Security
- 17 Financial
- 3 Regulatory
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Recent News
Potential port strike has retailers, manufacturers scrambling
Retailers and manufacturers are bracing for a possible strike by the International Longshoremen’s Association, set to begin October 1, which could impact 13 major East Coast and Gulf Coast ports in the U.S. This potential strike is significant as these ports handle a vast array of goods, crucial for… more
Gridlock in Nigeria amid fuel shortages
Nigeria is grappling with severe fuel shortages and rising prices, primarily due to challenges faced by the Nigerian National Petroleum Corporation (NNPC). The NNPC has cited debts and global price increases as reasons for its difficulty in securing adequate fuel supplies. This situation has led to extensive… more
Curious how we gathered this information? Explore Craft’s platform’s capabilities.
Energy and Utilities
Industry Risk Overview for September
112 overall risk signals from energy & utility companies tracked:
- 2 ESG
- 30 Security
- 28 Financial
- 51 Regulatory
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Recent News
Oil firms vow to fight judicial review of North Sea oil and gas projects
Shell and Equinor are defending their North Sea oil projects, Jackdaw and Rosebank, against legal challenges by environmental groups and a recent withdrawal of government support. The Labour Party’s decision, influenced by a Supreme Court ruling emphasizing the need to account for… more
The theft of hydrocarbons from Pemex pipelines reached an incidence of 14 cases per month
In 2024, hydrocarbon theft from Pemex pipelines, known as ‘huachicoleo,’ has shown an increasing trend with 97 investigation cases opened by July. This rate of 14 cases per month is a decrease from the previous year’s average of 10.5 cases per month. Historically, this crime has been on a… more
Shell Is Closing 1,000 Gas Stations To Focus On EV Charging
Shell is actively transitioning from traditional fuel to electric vehicle (EV) infrastructure. As part of its 2024 Energy Transition Strategy, Shell plans to sell 1,000 of its gas stations to focus more on expanding its EV charging network. The company aims to increase its global network of public EV… more
Spanish Island Gran Canaria Closes Several Beaches After Oil Spill Causes Environmental Emergency
An oil spill off Gran Canaria resulted from a refueling mishap at La Luz port, leading to the closure of several beaches and an environmental emergency declaration. The spill involved about 3 metric tons of low-sulfur oil, extending approximately 2 kilometers long and affecting nearby… more
Learn how a major Asian utilities and energy company optimizes its supplier visibility with Craft.
We hope these insights have enhanced your understanding of supplier risk in the global supply chain, making you evermore risk savvy.
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