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Risk permeates supplychains. The best-laid plans to avoid as many risks as possible often fall on deaf ears in supplychain management, but supplychain executives who take the time to understand the greatest threats can successfully position their companies to overcome such risks.
In the concluding part of the article, I want to examine how geopolitical risks might affect supplychain operations. ” • Notorious NorthKorea. Interestingly, Kupchan and Bremmer didn’t include NorthKorea as one of their trouble-spots for this coming year. Geopolitical Risks • Rogue Russia.
Many multinationals have engineered their global supplychains to minimize taxation by creating subsidiaries in low taxation nations like Switzerland, Ireland, and Singapore. In April of 2022, British American Tobacco, headquartered in the UK, agreed to pay $508 million in fines for selling their products to NorthKorea.
In this week’s Ripped from the Headlines segment, another example of how many companies still have poor visibility and control of their end-to-end supplychains. We do not approve or authorise any production of Rip Curl products out of NorthKorea.” How do you begin to improve supplychain visibility and control?
Three years ago, I wrote a popular post highlighting “ 5 New Year’s Resolutions for SupplyChain and Logistics Executives.” Stop viewing technology as a silver bullet. For related commentary, see “ There’s No Silver Bullet for SupplyChain Visibility ” and “ Forget Innovation, Just Execute Better ”.
The kids are back at school, we have air conditioning again, and NorthKorea tested a nuclear bomb yesterday. “If Moving on to the supplychain and logistics news that caught my attention this week… Mercedes-Benz and Matternet unveil vans that launch delivery drones (TechCrunch). Everything is back to normal.
The importance of critical infrastructure in maintaining economic stability and mitigating supplychain disruptions is highlighted every time a part of that infrastructure fails — such as the collapse of Maryland’s Francis Scott Key Bridge. That disaster was manmade. AI can also be used to address its own power-hungry appetite.
In mainland China (and even in other countries that celebrate the holiday such as Indonesia, Malaysia, NorthKorea, Singapore, South Korea, Vietnam, and Brunei), the Chinese New Year holiday is a very big deal. For some Americans, the holiday comes and goes without them even noticing. Halted production.
The process of identifying and penalizing human traffickers in a supplychain is exhaustive and at this point a comprehensive solution seems nearly impossible. It’s easy for these suppliers to turn a blind eye to any illegal activity, so information about employment doesn’t always make it to the top of the supplychain.
Gain Competitive Advantage by Understanding the Economic Aspects of SupplyChainsSupplychains play a crucial role in driving economic growth and prosperity. According to the Council of SupplyChain Management Professionals (CSCMP) the cost of U.S. All these help mitigate disruptions to supplychains.
While environmental repercussions of overfishing have traditionally been the focus among seafood consumers, labor practices in the seafood industry supplychains have recently emerged as the most discussed Corporate Social Responsibility (CSR) issue plaguing the sector. The Difficulty of SupplyChain Due Diligence.
I wanted to post my thoughts on some of the softwaresupplychain trends we saw last year and how they will continue to shape the efforts of the cybersecurity community as we embark on 2024. Unfortunately, softwaresupplychain attacks delivering a malicious malware payload are still on the rise.
Accomplished procurement veteran and author Tom Linton provides valuable insights into the supplychain risk management landscape in 2024 in this exclusive Q&A. As we move into the new year, there are many questions on our minds about the future of the supplychain. Tom: We always have to keep an eye on NorthKorea.
South Korea is in eastern Asia in the southern half of the Korean Peninsula. It is bordered by NorthKorea, the Sea of Japan and the Yellow Sea. Although it has been an independent kingdom for much of its history, the 20 th and 21 st centuries were tumultuous for South Korea. Manufacturing in South Korea.
Supplychain risk managers often feel like long-tailed cats in a room full of rocking chairs — everywhere they look a new risk appears. ”[1] Mike Rosenberg, a professor at the Iese Business School in Spain, insists understanding geopolitical risks is essential for supplychain managers.
I will be wrong again,” I stated last year before making my supplychain 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 supplychain and logistics operations becoming new targets.
This is not only true for financial investments, but also for supplychain and logistics predictions. Like I said last year, making supplychain 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.
The automotive industry is undergoing a massive technological transformation toward vehicle electrification and the shift presents huge opportunities for manufacturers that do business in the US, especially since the passage of the Inflation Reduction Act in August 2022.
When Russia invaded Ukraine, I knew there would be impacts on global supplychains. But supplychain impacts like the rising cost of gas, or the inability of a train to cross Siberia to bring goods from China to Europe, or the increased congestion this would cause at China ports, was not the supplychain impact I feared most.
Since declaring in June 2021 that China’s dominance of critical minerals supplychains threatened U.S. The IRA also labels China, Russia, Iran, and NorthKorea as “foreign entities of concern” and aims to prohibit automakers that use any critical minerals extracted, processed or recycled in those countries from receiving tax credits.
Here’s a few of the random thoughts that went through my head, (albeit from a supplychain guy’s point of view). One of the truths of manufacturing is that many operations are increasingly automated, and that robots are increasingly performing many of these jobs , particularly those related to repetitive manufacturing.
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