The three biggest risks in logistics

Logistics is a volatile business worldwide. More than ever, current trends and global political developments are creating new challenges and putting pressure on supply chains. But which risks are decisive and demand a rethink for the future? The first survey as part of a new survey series, which the Logistics Hall of Fame has initiated together with the SCHUNCK GROUP, shows a clear result: The ongoing shortage of skilled workers, cybercrime and supply chain disruptions are currently causing the most problems for the logistics industry in the DACH region.

According to the respondents, the biggest risks currently confronting the logistics industry worldwide are the shortage of skilled workers (71.8 percent), followed by cybercrime (64.1 percent) and, in third place, supply chain disruptions (48.7 percent).

The picture is similar when it comes to the specific risks to the individual company. Here, the shortage of skilled workers also occupies first place in the individual risk ranking (62.5 percent). However, supply chain interruptions (47.5 percent) rank ahead of cybercrime (45 percent).

Political risks (43.6 percent) and climate change (18 percent) followed as general dangers, as did political risks (37.5 percent) when asked about their own companies. In contrast, business interruptions, the outbreak of a pandemic, market changes and loss of reputation played a lesser role.

"Topical issues such as supply chain problems and a shortage of skilled workers dominate the logistics risk ranking, but logistics executives have also realized that data-driven business models in logistics offer more and more gateways for cyber criminals to infiltrate logistics chains, reroute flows of goods or paralyze operations," says Thomas Wicke, Managing Director of the SCHUNCK GROUP. "However, the fact that cyber attacks can become a problem for companies of all sizes is often forgotten or ignored. Even for small companies, damage in the millions can quickly occur. That’s why it’s important to be well protected against the effects of the risks," Wicke continues.

To fight the risks, the executives surveyed specified a number of ongoing measures, including early employee retention activities, comprehensive training programs, work on top employer branding, and the formation of task forces to motivate in-house staff and recruit external forces, among others.

"Existing measures can be supported by suitable solutions that pay off in retaining employees and increasing employer attractiveness," says Wicke, describing the possible approach. To protect against cybercrime, companies said they consciously invest in IT security, regularly hack themselves to detect security vulnerabilities, purchase monitoring systems, and secure processes and install regular backups.

The survey, which involves an executive C-level panel of selected managing directors, board members and entrepreneurs from the Logistics Hall of Fame network and the SCHUNCK Group, will be conducted quarterly in the future on changing topics. Interested parties can be added to the distribution list by sending an e-mail to stefanie.nonnenmann@impact.mp. The survey shows the current mood in the logistics industry and is not representative of the industry as a whole.

About SCHUNCK
The SCHUNCK GROUP (www.schunck.de) is the leading insurance broker and service provider in the logistics industry. The group convinces with competence and long-standing expertise as well as innovative products and IT solutions. The focus is on consulting and brokering customized insurance solutions for individual risks for medium-sized companies. The insurance portfolio ranges from transport liability and goods transport to business, environmental and product liability, provision management, bad debt and factoring as well as cyber insurance.

SCHUNCK was founded in 1919 and is part of the Ecclesia Group. With more than 2,400 employees, the Ecclesia Group is the largest German insurance broker for companies and institutions. Headquartered in Munich, SCHUNCK also has nine branch offices in Germany, a subsidiary in Spain and a global network of over 590 brokers worldwide.

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