TT Club questions lack of resilience in ‘just in time’ supply chains

Experiences over the past year including the Brexit transition and the Suez Canal blockage could lead supply chains to reconsider the prioritising of efficiency and cost reduction over resilience, according to transport and logistics insurer TT Club.

In its advisory capacity as a mitigator of risk and loss in the supply chain, the insurer is warning that already strained supply chains will face additional security risks in the months ahead.

Mike Yarwood, TT Club’s managing director, loss prevention, stated: “The last decade has witnessed many in the supply chain drive towards streamlining and operational efficiencies. Such measures have included reducing the number of suppliers and introducing ‘just in time’ principles to lessen the burden of unnecessary inventory costs.