Introduction

Nita Kohli

This book was written not only to address existing regulations but to embody principles that can adjust to changing regulatory frameworks, technological progress, and shifts in supply chain dynamics. This adaptability is a necessity, given the direction and magnitude of the changes we are undergoing. Many organisations focus heavily on compliance, often overlooking the underlying intent and purpose of the regulations themselves.

In today’s complex environment, organisations face webs of intersecting risks whose combined effect cannot easily be predicted or managed. When several such disruptions materialise simultaneously, the cumulative impact can pose intolerable harm to an organisation. For example, the Covid-19 pandemic provoked decline in both regional manufacturing capacity and worldwide container shipping capacity – ie, two risks triggered by the same event. Similarly, during the 2007/08 global financial crisis, customers and suppliers went out of business in disparate geographies as its impact reverberated across the global markets. Russia’s invasion of Ukraine compounded risks for many organisations, resulting in higher costs of raw materials combined with loss of