The chemical industry is most at risk to supply chain disruption from fires and explosions, according to new data from Riskmethods. Recently released data reportedly shows that disasters at business partner sites, which are often related to fires and explosions, are most prevalent within the chemical industry.
Of the various risk alerts that Riskmethods sent to its customers in 2018, disasters at business partner sites were most often sent to companies in the chemical industry: 27% of alerts relating to this topic went to chemical customers. Although prevalent in the chemical industry, this is certainly not the only industry affected by fires and explosions: The 2018 Allianz Risk Barometer ranks fires and explosions as one of the most feared risks by businesses across all industries.
“For every one major fire or explosion that makes the mainstream news, there are hundreds of smaller ones that nonetheless have significant negative impacts on business,” says Peter Dudek, global director of customer success at riskmethods. “Although preventing these unforeseeable disasters is unlikely, they can be mitigated through real-time updates and a thorough action plan.”
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