There’s no such thing as normal, even though supply chains have COVID-19 in the rearview mirror. While suppliers may be more consistent, customer expectations have changed. Listen to this on-demand webinar, presented by Lisa Anderson, founder and president of LMA Consulting Group - to learn the latest about supply chains as we head into 2024.
40% of the goods movement from Northeast Asia to the U.S. East Coast go through the Panama Canal, and so the Panama Canal issues are driving shortages, late deliveries, and re-routing of goods.
The White House has launched a cabinet-level supply chain council as the criticality of the topic rises to the top.
Lisa Anderson was quoted in an article on the American Express website discussing why local sourcing can help benefit your business in a big way!
Companies went global for the past few decades with a gusto to save labor costs. The pandemic jolted many Executives eyes open to the risks in the global supply chain. Suddenly, companies were reevaluating their global footprint with an eye to cost, risk (supply chain, geopolitical, etc.), customer performance, etc.
Israel was attacked by Hamas, and the world has another war in another region of the world. Since the global supply chain is interconnected, in addition to the devastation in the region, supply chain impacts will emerge.
Global supply chains are on the move. Executives have been hit with the harsh reality that the risk (supply chain, geopolitical, cyber, IP, etc.) is far higher than they realized when they outsourced with an eye to cost.
Manufacturing appears to be turning the corner. According to the ISM, the Purchasing Managers Index (PMI) recorded a contraction but at the slowest pace of the recent cycle. In fact, this is the third straight month of improvement.
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.
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.
