Drive Proactive Supply Chain Resilience Strategies

Disruptions spawning from the COVID pandemic in 2019 sent shockwaves throughout the supply chain, causing market volatility, shipment delays, and supply issues like never before. The impacts touched all industries, from telecommunications to healthcare, perhaps hitting automotive the hardest. The subsequent China heatwave in the summer 2022 is reported to have caused a direct economic loss of $400 million in July alone. But not only did companies suffer a monetary loss, most also experienced reputational damage, losing customers and struggling to acquire new business. As we look back to this volatile period, one thing is clear: the global supply chain was not prepared for this level of disruption.