SCRS Conference Day 1 Session 5
Securing a Sustainable Businesses with Supply Chain Risk Mitigation Strategies
Moderator:
Mr. Felix Li, Board of Director, TAPA APAC
Panelists:
Ms. Vivian Xu, Head of Internal Audit, Compliance and Security, Asia Pacific, Bose
Mr. Mark Nuttall, Geopolitics, Risk, AML & Security Expert
Mr. Victor Bai, Asia Council President, International Association of Emergency Managers (IAEM)
Against the backdrop of geopolitical uncertainties and economic volatility, businesses are increasingly compelled to reevaluate and fortify their approaches to ensure continuity and resilience. Addressing these complexities was at the forefront of discussions during the recent Supply Chain Resilience and Sustainability (SCRS) Conference 2024 held in Shanghai, China on June 25th and 26th, where industry leaders gathered to explore proactive strategies for safeguarding supply chain operations.
SCRS Conference is organized annually by the Transported Asset Protection Association Asia Pacific (TAPA APAC), a hallmark event with this year’s theme of “NextGen Supply Chains: Resilience & Brand Protection.” The conference convened over 250 delegates, including supply chain leaders, experts, and stakeholders from across the Asia Pacific region, to delve into crucial topics such as supply chain resilience, brand protection initiatives, and sustainability practices.
The panel discussion was moderated by Mr. Felix Li, a distinguished Board of Director at TAPA APAC. Joining him were prominent industry experts: Mr. Mark Nuttall, renowned for his expertise in geopolitics, risk management, anti-money laundering, and security; Mr. Victor Bai, President of the Asia Council at the International Association of Emergency Managers (IAEM); and Ms. Vivian Xu, Head of Internal Audit, Compliance, and Security for Asia Pacific at Bose. The panel delved into three pivotal questions that explored the critical intersections of geopolitical dynamics, supply chain resilience, and sustainability practices, shedding light on strategies to mitigate risks and ensure operational continuity in an increasingly volatile global landscape.
Q1. What are the key indicators that businesses should monitor to anticipate potential disruption in their supply chain due to geopolitical factors and how can they effectively respond to this in a timely manner?
Mark emphasized the critical importance of staying informed through platforms like TAPA APAC and World Economic Forum. He highlighted the need to monitor central geopolitical events and strategic plans outlined by international organizations to align supply chain strategies accordingly. Mark also underscored the rising significance of Environmental, Social, and Governance (ESG) reporting, urging companies to integrate these metrics comprehensively into their risk management frameworks to enhance sustainability and resilience. Companies should focus on understanding the risks and their impact, thereafter, strategically plan out a system as a tool to handle and eliminate all those impacts
Vivian echoed Mark’s sentiments by stressing the importance of sensitivity to global political and economic shifts. Vivian advised companies to deploy robust monitoring systems capable of real-time data collection to pre-emptively address potential disruptions. She emphasized that proactive monitoring allows businesses to adapt swiftly to changing geopolitical landscapes and mitigate operational risks effectively.
Q2. What are the top 3 trends and opportunities you would recommend for companies to focus on?
The panel agreed that the top 3 trends and opportunities for supply chains are diversification, ESG and technology. Victor emphasized the need for companies to avoid over-reliance on single-source suppliers and to explore diversified sourcing strategies to enhance flexibility and resilience against geopolitical disruptions. He highlighted the growing importance of ESG considerations in corporate strategies. He noted that adherence to environmental, social, and governance standards not only enhances corporate reputation but also mitigates risks associated with regulatory changes and stakeholder expectations. He also discussed the transformative potential of advanced technologies such as artificial intelligence and quantum computing in predicting and mitigating supply chain risks. He emphasized the role of these technologies in enhancing predictive capabilities and operational efficiencies, thereby enabling businesses to stay ahead of geopolitical challenges. Adding on, Mark highlighted how Artificial Intelligence (AI) can help to predict what is going to occur within the next 100 years that we can then cope with physically and then design a strategy for a sustainable future.
Q3. In what ways can companies integrate resilience into their supply chain management practices to address both geopolitical risks and security challenges effectively?
Vivian answered that diversification within supply chains is very crucial, cautioning against concentration in one geographic region. She then advocated for enhanced supply chain visibility through technological innovations, enabling businesses to proactively identify and mitigate potential disruptions.
Victor expanded on this by emphasizing the necessity of systematic risk assessments and strategic planning. He underscored the importance of preparedness and readiness, likening effective supply chain management to a robust defense system equipped to respond swiftly to emerging threats. He continued to stress the importance of integrating comprehensive monitoring systems, rapid response mechanisms, and resource acquisition strategies as essential components of resilient supply chain practices.
The panel concluded the critical need for businesses to adopt robust standards and industry best practices to safeguard their supply chain operations against geopolitical risks. They highlighted the role of organizations like TAPA APAC in providing comprehensive frameworks for securing supply chains, which include guidelines for enhancing preparedness and responsiveness amid global uncertainties. By adhering to these standards, companies can fortify their operations, build resilience, and ensure continuity in the face of geopolitical complexities.
“At TAPA APAC, we are developing a lot of standards and the tools to help our members’ businesses to build sustainability into supply chains. I would appreciate it if all of our members can spend more time and effort in these standards that we are developing more to help businesses fight against the challenging situation that we are facing”, Felix commented at the end of the panel.
To learn more about TAPA Standards, please visit TAPA APAC website at www.tapa-apac.org or email to info@tapa-apac.org.
About the Moderator
Mr. Felix Li
Board of Director, TAPA APAC
Mr. Felix Li takes part in reviewing the general planning process and the association plan’s objectives. Felix is Director, Safety & Security Service of Starbucks China, with extensive professional experience and significant executive leadership accomplishments in security, safety and crisis management. He oversees security and safety operations and risk management in the China market. With over 25-year experience in different industries, including supply chain, high-tech, automotive and F&B, he can contribute to the board by bringing different opinions and views from both aspects of buyers and vendors, and stirring the direction into greater China.
Email: felix.li@tapa-apac.org
LinkedIn: https://www.linkedin.com/in/felix-li-b27b288/
About the Panelists
Mr. Mark Nuttall
Geopolitics, Risk, AML & Security Expert
Mr. Mark has extensive counter-crime, security, ESG, and risk background with over 25 years’ experience as a global risk management, anti-financial crime, and international security specialist. He has advised at the international blue-chip level to C-suite, as well as to international office holders within the geopolitical community. He also speaks at global events.
Email: mark@esgriskadvisory.com
LinkedIn: https://www.linkedin.com/in/mrmarknuttall/
Mr. Victor Bai
Director & Vice President, IAEM/BCEM Consulting, Inc
Mr. Victor is an expert in regional security and emergency management, with over two decades of experience. Since 2007, he has been dedicated to ensuring the safety and resilience of communities, drawing from his extensive background as an emergency manager since 2002. Victor’s leadership journey began in 1997, where he honed his skills as an emergency response team leader and incident commander, laying a solid foundation for his impactful career in crisis management. Currently, he serves as the Director & Vice President of IAEM/BCEM Consulting, Inc., further exemplifying his commitment to the field.
Email: iaemasia@outlook.com
LinkedIn: https://www.linkedin.com/in/emergency/
Ms. Vivian Xu
Head of Internal Audit, Compliance and Security, Asia Pacific Bose
Vivian has served many foreign-funded enterprises such as Wal Mart China, Wal Mart Global Sourcing, Nike China, and is now the head of Asia Pacific security, compliance, and internal audit of Bose. She have over 15 years of work experience in the retail industry, specializing in areas such as auditing, security, investigation, loss control, and risk management. She hold a WZ certified Advanced Certificate in Interview and Interrogation. Currently serving as a career mentor at Antai School of Economics and Management, Jiaotong University, a lecturer in TAPA supply chain security, the deputy director of the Risk Committee in CCFA. In 2020, published an article in the CCFA journal titled “Three Methods to Reshape Retail Loss Prevention Professional Ability”; In 2022, led master’s students from the Antai School of Management at Jiaotong University to participate in writing the 2021 China Retail Industry Risk Report; In 2022, published an article on the ASIS platform titled “Strategies for Women in Critical Situations”.
Email: vivianxuvivian@126.com
LinkedIn: https://www.linkedin.com/in/vivian-xu-30777766