No one likes getting held up in traffic, but for supply chain companies, traffic jams have a bigger consequence than in any other sector. It not only affects your timelines but can also affect your business in its entirety and might even end up leading to massive losses. According to a survey done by The Associated General Contractors of America, 93 percent of companies that took part in the study reported that traffic and congestion have a significant impact on their operations. Further studies indicate that most populated areas suffer from traffic congestion and its impact than other areas.

The recent ransomware attack on the Colonial Pipeline in the US on May 7, 2021, shows the challenges that a supply chain can encounter if it lacks adequate cyber defenses and strategies. Though it belongs to a private firm, this pipeline supplies almost half of the US East Coast with liquid fuel. However, the recent attack that led to the cutting of the supply of this critical commodity shows that a lack of a cyber strategy can jeopardize your operations and impact your income.

As we try to open a new chapter after a year of untold suffering and unprecedented disruption, we can look back at where we have come from and see what we did wrong and what we did right. 2020 has taught us lessons about what we lack and has shown us things that we can improve in the future. As we enter the middle of 2021, we need to be prepared, and this can be attained by setting up better policies and regulations and identifying risks in the supply chain sector. Here are some risks and regulations that you must be aware of and comply with this year.