To put it mildly, it hasnât been an easy time for anyone in logistics. The COVID-19 pandemic continues to keep supply chains tangled, and risks, including extreme weather events, have begun to look less like outliers and more like harbingers of an unpredictable future.
Itâs unsurprising that a world beset by unprecedented levels of health and environmental risks is becoming inhospitable to the supply chains on which businesses have relied for decades. Board members have a duty to face up to the reality of todayâs unsustainable supply chains. A recent international survey of senior decision-makers revealed supply chain disruptions cost companies an average of $184 million annually, with U.S.-based companies feeling an even bigger pinch with average annual losses of $228 million attributed to supply chain issues.