As supply chains become more global, by necessity they also become more complicated. And as they get more complicated, supply chains also become more susceptible to risk. According to a recent study from PricewaterhouseCoopers and the MIT Forum for Supply Chain Innovation, as many as 60 percent of companies only pay marginal attention to risk reduction. This lack of maturity in risk processes can have a huge impact in the wake of severe disruption, the report says.

For example, in the six months following the 2011 earthquake and tsunami, production levels in Japan's automotive industry was down 24.8 percent. But one auto manufacturer bucked the trend: Nissan. Nissan's production in that time period only fell 3.8 percent. How? Nissan strengthened its supply chain management and risk management capabilities before disaster struck, and that helped it recover much more quickly.

Certainly the earthquake and tsunami were what the report classifies as "unknown-unknowns" – disruptions that can't be accurately predicted well in advance. But in a survey of 209 companies, five of the top six risks identified by respondents were "known-unknowns" such as raw material price fluctuation or currency fluctuation, things which are pretty likely to happen. Either way, companies need to be prepared to respond. (Read more in The Pain of Uncertainty)

Here are some of the key findings from the PwC and MIT study that can help you better prepare for disruption:

1. Companies with mature supply chain and risk management processes are more resilient. In other words, start planning, building and testing now – before it’s necessary – to make sure you are well-prepared.

2. Build flexibility into your processes, even if you are more focused on cost efficiency. According to the study, companies with flexible-response strategies fared significantly better after a disruption, even though the cost to implement this strategy was higher. Finding a balance – such as having access to different suppliers, as suggested by MDM Market Mover A&M Industrial's Kevin Rosenthal in A&M Industrial Carves Out Emergency Response Niche – can position you for a more efficient response.

3. Invest in risk segmentation. Different value propositions – from product mix to value-add services – have different risk profiles. Make sure you're doing a full risk assessment of your own business and not just relying on someone else's experience.

Access the complete report "Making the Right Risk Decisions to Strengthen Operations Performance" here.

Learn more about best practices in building a disaster plan in Disaster Plans: ‘No Single Point of Failure.’