The risk of China has increased dramatically over the years. Early on, executives were concerned about intellectual property theft. Although that is still a concern, there are much bigger issues.
The FTC is cracking down on bogus 'Made in America' claims. Lisa Anderson was quoted in Bloomberg Law on reshoring and near-shoring.
If you are dependent on any region, non-friendly country, customer, supplier, material, or anything noteworthy to your success, you must diversify. Although this concept has always been true, the pandemic highlighted the critical importance. Some companies simply lost their source of supply overnight and have not recovered if not diversified.
The latest Francis Scott Key Bridge collapse has caused massive diversions on the East Coast and in the Baltimore region and points out the need for backup sources of supply and agility in the supply chain.
The supply chain is in a constant state of disruption. As we discussed on Supply Chain Chats, simple backup plans are no longer enough. In fact, you can look at recent events and determine if a backup is sufficient. Starting with the pandemic, of course, most if not all companies didn't have a sufficient enough backup plan.
COVID-19 may no longer be a significant public health threat, but the global supply chain remains chock full of risk. The threats are seemingly everywhere these days: The Israel-Hamas war, which is sabotaging trade routes in the Red Sea; extreme drought, which is curtailing shipping in the Panama Canal, and China’s military aggression, which is threatening lawful commerce in the South China Sea.
Lisa Anderson was quoted in Inc. on the effect on local business of the Francis Scott Key bridge collapse, and the ripple effect on the supply chain.
Lisa Anderson was quoted in this article on Inc., reminding businesses that diversification of supply chains is key especially during times of disaster and infrastructure rebuilds.
NTD TV in New York interviewed Lisa Anderson about the Baltimore Bridge Collapse the Supply Chain Impact to discuss the economic impact.
In this episode of Supply Chain Chats, Lisa Anderson talks about the state of affairs in the global supply chain. From the drought impacting container ship capacity in the Panama Canal to the Iran-backed Houthi rebels attacking container ships in the Suez Canal to the Chinese aggression towards Taiwan and ships passing in the South China Seas, risks are increasing across the global supply chain.
