Supply Chain Shortage……..?
How to Prepare for the Transporting Supply Chain Disruption of 2023
Transporting Your Goods
Globalization has made the world much smaller, a shift that has benefited businesses of all sizes and industries. With a diverse global supply chain, your company can stimulate growth by reducing costs, increasing volume and improving efficiency. But globalization also comes with risks.
Suppose your company depends on a network of suppliers worldwide. In that case, your supply chain is always vulnerable to disruption from factors outside your control, like natural disasters, tariffs, shortages or geopolitical clashes.
- Nearly 75 percent of U.S. businesses have experienced supply chain disruption.
The Risks of Global Supply Chain
Insurance isn’t the only risk you face when you run your business on a global scale. Several other potential risks can impact your operations and make your life difficult. Let’s consider a few.
Transport Globalization involves travelling to many locations, with foreign companies frequently seeking to get their products to your door. Road conditions in many regions are poor. In the U.S., trucking companies will sometimes pass on riskier routes because of costs, thereby limiting your supply chain options.
You also have to worry about the cost and availability of transportation on the other side of the planet, adding to your expenses.
- You may have to handle the logistics and shipping yourself if your supplier isn’t local or switch to another supplier that can do that.
Many factors can affect the supply chain, including:
- Economic and political conditions
- Political unrest in your country
- Fluctuating oil, coal and other commodity prices
- Employee shortages and mandatory overtime
- The inability to attract the workers you need
- Reliance on foreign suppliers
- The threat of war
However, supply chain disruptions aren’t limited to any one country, a principle called…
