More than half of the 300 U.S. and Canadian senior-level executives who participated in the 2014 Chubb Multinational Risk Survey said they expect to increase their overseas activities this year. Some of the most common plans included increased overseas travel, new product introductions and expanded overseas headcount.
Similarly, of the 61 U.S.-based industrial manufacturing executives who participated in the first-quarter PwC Manufacturing Barometer: Business Outlook, 18% said they expect to expand to new markets abroad over the next 12 months, up from 9% a year ago. Thirteen percent said they expect to open new facilities abroad, up from just 3% a year ago.
Some of the top risks facing manufacturers and other U.S. multinationals include supply chain failure, data breaches and employee safety during business travel.
Supply chain failure was identified as the greatest threat to multinational overseas operations in the year ahead, according to Chubb’s survey. For manufacturers in particular, the supply chain is a lifeline.
Without a smooth-running supply chain, manufacturers may experience significant production delays, distribution derailment and damage to the brand. These setbacks could be enough to jeopardize the firm’s future.
More on supply chain risk on IndustryWeek.com.