‘Supply chains will never return to normal.
Managing crises is the new normal.’
- Diego Pantoja-Navajas, VP of warehouse management software, Oracle
A puff of wind in the Suez Canal. Three million cars that can’t be manufactured because of a semiconductor shortage. Furniture, BBQs, swimwear, bicycles and camping equipment that won’t make it to the shelves this year...
The Ever Given was only stuck for six days, but it held up 400 vessels – trade worth $60bn – and created an estimated 60-day ripple-through delay in shipping. A price surge followed inevitably: freight rates are currently triple the five-year average.
These are some of the takeaways from an article published in WIRED this week. Underlining the fragility of globalised trade, the Ever Given episode is just that: an episode. Expect another instalment soon, says Pantoja-Navajas. “If it’s not the Suez Canal today, tomorrow it’s the hurricane season and tension in the Middle East the day after. It’s not a question of ‘if,’ it’s ‘when’.’’
More than ever, agility, resilience and instant adaptability are qualities every organisation should be developing in its logistics networks. It’s a massive, complex challenge. But the complexity can be mastered with the 7bridges platform. AI-powered supply chain agility and real-time adaptability...and a smarter way to deal with a puff of wind.
Read the full WIRED article here.
Concerned about managing crises in your supply chain? The Resilience whitepaper from 7bridges, uses real examples to illustrate the danger faced by supply chain fragility. It also offers practical advice on how to build resilience in your organisation, with 8 key steps. Download the resilience whitepaper.
