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Also, risks can range from working with entities outside of a given company, such as third-party logistics providers ( 3PLs ), to changes in the expected movements of a product, otherwise known as scope change risks. Labor Risks Can Upend an Effective Supply Chain.
In April of 2022, British American Tobacco, headquartered in the UK, agreed to pay $508 million in fines for selling their products to NorthKorea. Companies who have experienced these delays often add inventory across their network to buffer the risk. appeared first on Logistics Viewpoints. Treasury Department.
As first reported by Fairfax Media , a factory in NorthKorea has been making high-priced surf and snow gear for Australian surfwear company Rip Curl since at least 2014, with the garments labeled “Made in China.” We do not approve or authorise any production of Rip Curl products out of NorthKorea.”
The kids are back at school, we have air conditioning again, and NorthKorea tested a nuclear bomb yesterday. “If Moving on to the supply chain and logistics news that caught my attention this week… Mercedes-Benz and Matternet unveil vans that launch delivery drones (TechCrunch). I’m rooting for love.
business logistics amounts to 9.1% business logistics reflects the highest percentage of GDP in history. Other geopolitical risks, such as tensions between Russia and Ukraine, along with unpredictable regimes in Iran and NorthKorea, have the potential to disrupt global supply chains as well. of the country's GDP or $2.3
Smart inventory managers plan for Chinese New Year (aka Lunar New Year) many months before the event. Account for shipping backlogs With ongoing challenges around shipping assignments, it could be wise to bring orders a little further forward than usual in 2024, just to help mitigate any logistical issues.
Chinese New Year (aka Lunar New Year) might seem like a long way off, but smart inventory managers will be starting to plan for this event very soon. With ongoing challenges around shipping assignments, it could be wise to bring orders a little further forward than normal in 2021, just to help mitigate any logistical issues.
I will be wrong again,” I stated last year before making my supply chain and logistics predictions for 2017 , and I was right. But I was right with some of my other predictions, especially my prediction that we would see a rise in cyber attacks in 2017, with supply chain and logistics operations becoming new targets.
This is not only true for financial investments, but also for supply chain and logistics predictions. Like I said last year, making supply chain and logistics predictions is like throwing darts at a moving target: sometimes you get lucky and hit the mark; other times you miss the bullseye by a mile. Photo By: MAJ Aaron Haney.
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