When Storms Rage: How to Protect Your Supply Chain from Natural Disasters
Hurricane Season is shaping up to be among the most active and most destructive in recent memory. With Texas still recovering from Hurricane Harvey, the Caribbean and much of the Southeastern U.S. has been battered by Hurricane Irma, one of the most powerful Atlantic hurricanes in history. And more storms loom behind it.
According to Moody’s Analytics, the economic damage created by Hurricane Harvey has risen to $75 billion, “which includes property damage and lost economic output.” Even more alarming, freight research firm FTR Transportation Intelligence reports that “Hurricane Harvey’s broad swath across Texas will strongly affect over 7% of U.S. trucking over the next month and beyond.”
Natural disasters impact supply chains
Given the absolute necessity of clear and safe infrastructure for shippers, a disruption as big as Hurricane Harvey or Irma can create utter chaos for your business. Shippers need to have a well-formed business continuity plan to prepare their employees and their business before a natural disaster.