In an era defined by disruption, organizations must be able to respond quickly to changing business needs and customer demands. In the past few years alone, a trifecta of events—the pandemic, political turmoil, and natural disasters—have wreaked havoc on the supply and demand equation, challenging organizations to rethink their [...]
The awareness of the importance of international supply chains has grown in recent years, not just among the business fraternity, but more widely in the media, among politicians and ordinary citizens as well.
Executives are tired after surviving the pandemic, navigating supply chain disruptions, handling soaring inflation, and dealing with one challenge after another. However, it is not time to rest as supply chain risks abound.
The Panama Canal has a 40% market share for containers moving goods from Northeast Asia to the U.S. East Coast, and drought conditions are creating a new round of supply chain disruptions. There have been between 130 - 160 ships waiting, leading to supply chain delays.
Supply chain risks are exploding. Just look at the news, and you'll see a potential UPS strike, a Canadian port strike, potential hurricanes (Hawaii, Florida), China stirring up potential conflict with China, the Crimean bridge attack, and much more.
The world of supply chain and logistics has been plagued with volatility, disruptions, geopolitical issues, concerns about energy availability and transition, increased regulations, and rare earths.
Globalization is not working. Geopolitics abound. For example, the war in Russia and Ukraine ravages on. There are concerns around the nuclear power plant in Ukraine, occupied by Russia. And that is aside from the impact on oil, food, commodities and much more. China continues to threaten Taiwan and has already changed Hong Kong. It is no longer the same for business. There are countless risks throughout the world.
There are mountains of geopolitical threats going on with significant impact on the supply chain. Most, if not all of these also relate to natural resources.
According to an article in Foreign Affairs, the per capita available water supply around the Northern China Plain (253 cubic meters) is nearly 50% below the UN definition of acute water supply.
Special Report: How Companies Should Reshape to Succeed in 2023 & Take Advantage of Huge Opportunities Coming Down the Pike
