Based on our conversation with company executives and industry experts, these are three topics that should be on executive agendas in Q2 2023:
- Financial and Cyber Risks: With the collapse of Silicon Valley Bank and Signature Bank last month and cyber attacks on the rise in 2023, risk of supply chain or operations disruptions are heightened. Executives should be aware of the ways their business may be vulnerable to these disruptions and the mitigation activities being taken to minimize those risks.
- Supply Chain Resilience and Risk Management: The COVID-19 pandemic highlighted the importance of supply chain resilience and risk management. Executives should be following the latest developments in supply chain disruptions, such as natural disasters, transportation disruptions, labor shortages, and geopolitical tensions. Understanding and mitigating risks to the supply chain can help executives proactively address disruptions and maintain business continuity.
- Sustainability and ESG Considerations: Sustainability and ESG considerations have become critical in supply chain management. Executives should stay informed about sustainability initiatives, regulations, and standards related to the environment, social responsibility, and corporate governance. This includes new SEC guidance to consider the impact of climate change and ESG in company disclosures.