The near constant cadence of supply chain headlines, coupled closely with inflationary concerns, continue to dominate news cycles and spending plans for people around the country.  The shocks that have reverberated throughout the global supply chain are still being felt- and quantified- through product shortages and price or content adjustments.  Companies large and small are seeking ways to better prepare for challenges in supply chain logistics, while building security, resiliency, and redundancy in their process.

One thing is for sure- it won’t be easy to solve the supply chain puzzle incumbent upon us.

As a Chicago Booth researcher observes in the report below, “the COVID-19 supply-chain crisis has raised red flags about how a relentless focus on efficiency has compromised reliability, and it has highlighted how prone the chain is to disruption”.  Well said!

Consider this- the global supply chain is not ‘just’ threatened by pandemics.  Threats also abound from natural disasters, political turmoil, war, tariffs, climate change, cyberattacks, supply shortages… the list goes on.  When coupled with a meteoric rise in e-commerce and an increased, some may say dire, need for sustainability, it is understandable why companies across just about every industry see the need to re-examine the lean supply strategies (think, just-in-time delivery) prevalent over the last fifty-odd years.

Industry experts and economist predict that the supply chain issues may last into 2023.  Many solutions to this puzzle will be considered, with varied and oftentimes contradictory benefits.  Will solutions include reshoring factories?  How about nearshoring or ally shoring?  No matter what, consumers will be expecting great selection and price, with speedy delivery- for better or worse.

Enjoy this in-depth report on the issue from the Chicago Booth Review and let me know what you think!

~ Brian Kasal- The Leadership Matrix

Click here- How to Create a Better Supply Chain

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