The world is experiencing turbulent times. The impact of the COVID-19 pandemic, climate change and the conflict in Ukraine have put the global economy under severe strain. Global supply chains are feeling the tension and it’s predicted to remain difficult for the rest of 2022 and beyond.
While these challenges cause huge difficulties in the short term, they can also be seen as a catalyst for change. Through adversity there is an opportunity to take a step back and reassess how organizations can best protect themselves in the future from similar challenges that are bound to occur.
Now, there is a unique opportunity for businesses to embrace real change, incorporating more-stringent processes and building greater resilience, ensuring future storms can be weathered more effectively. This will not only benefit the global economy but wider society too.
Why supply chain resilience is vital
The past few years have highlighted the weaknesses that exist in the global economy. Supply chain frailties, inflexible approaches, disenfranchised populations to name just a few. Failing to seize the moment and consider alternatives could be fatal for businesses. The dangers include:
- Increased…
