Analyzing Q2 2024, Lehigh’s Risk Management Index reports that cybersecurity is the top risk for supply chain managers for the fifth consecutive quarter. Lehigh’s Center for Supply Chain Research started the index in 2020, listing the ten most significant business risks. The latest findings conclude that generative AI technology risk has grown, although cybersecurity risk remains the top concern.
Saif Mir, a professor of supply chain management, explained that risks are rated from zero to 100 using a formula to determine how prominent each potential risk is. Mir indicated that the risks at any given moment provide information about where business leaders’ priorities should lie.
David Hinkle, a supply chain major, said Lehigh’s Risk Management Index is an excellent way for students to learn about industry trends from professional perspectives. It teaches students what they should pay attention to and be aware of when entering the industry.
“The cybersecurity risk factor has been increasing every year, which makes sense due to the strength of malware attacks and the power of AI increasing,” Hinke said. “So, it would be something that we should obviously look out for in our early careers.”
He also stated that supply chain risk management is vital to a post-COVID business landscape.
