The Most Resilient Countries in the World
If you want to survive, you need to pay attention to your supply chains – among other things – and include it in your risk management scheme. One disruption in your supply chain can take huge toll on the running of the business and it can cause your business to wobble. That’s why FM Global is having a study and releases it as FM Global 2015 Resilience Index where they list some of the most resilient countries in the world.
The purpose is to help companies manage and evaluate the supply chain risks, and see what they can do when it comes to supply chain elements (such as infrastructure, corruption, and local supplier quality), risk quality (related to risk management and natural hazard exposure), and also economic strength. There are 130 countries being surveyed and they are placed in ranks to see which one is the most resilient and which is the weakest.
The study shows that :
- Norway sits on the number 1 as the most resilient country in the world. Its main reason is because of the strong economic productivity, oil shock resilience, good political risk, and very well managed corruption control.
- Switzerland sits on the second place.
- Surprisingly, Venezuela sits on the bottom place despite their massive oil reserves. The country has to face the typical challenges that most South American countries have to face: difficult political condition, challenging geological condition with its ‘Ring of Fire’, and also economic hardship.
- Taiwan manages to sit on the spot 37, making improvements from last year’s 52 spot. It seems that they are committed to deal with fire and natural disaster risks.
- Ukraine, sitting on 107 spot, and Kazakhstan, sitting on 102 spot, experience drastic decrease up to 31 spots. The reason for Ukraine is for the worse political risk and bad infrastructure, while Kazakhstan is caused by poor natural disaster risk management.
- Belgium and Australia who were within 10 top spots last year, dropped to 11 and 14 spots.