This is your weekly supply chain bulletin from B2BE for the week starting 23th January 2023.
Each week, we bring you a rundown of the latest trends in the news from across the supply chain industry. We cover the issues most important to you, bringing you useful links to the full articles. This ranges from news on various supply chain disruptions to strategies to lessen the damage. We also include other relevant supply chain related updates. If you missed it, you can read last week’s supply chain bulletin here. Read on to see what’s making the news this week.
Could the complexity of the supply chain be eased with blockchain?
Blockchain provides stakeholders with a shared, authoritative record of all executed transactions for goods in the supply chain. Potentially eliminating the need for costly reconciliation and audit processes. The transparency of blockchain is also a huge benefit from end-to-end visibility across all members of the supply chain process, including manufacturers, shippers, suppliers, retailers, and consumers.
After the shock of COVID to the supply chain, could it withstand another?
After almost three years of uncertainty, and wild extremes the supply chain is slowly getting back up to speed, and returning to a state of ‘normal’ however, it’s estimated that there are still plenty of potential roadblocks. Take for example, developments in China and Ukraine remaining uncertain showing Covid wasn’t the cause of the problems with the supply chain, it was a trigger to show how bad it was.
73% of supply chain professionals predict Chinese New Year chaos
A larger share of freight forwarders and supply chain professionals this year in 2023 are expecting disruptions owing to COVID outbreaks in China and the Chinese New Year factory closures as compared to the last year. Research shows supply chain professionals are foreseeing an impact to supply chains due to the Chinese New Year disrupting the shipping industry.
8.5% of firms have left Russia, is the supply chain cost part of the cause?
A recent report has shown of 1,404 EU and G7 companies with “commercially active equity investments” in Russia before the invasion, 120 (8.5%) had left by the end of November 2022. This included firms such as McDonald’s, Coca-Cola and Pepsi withdrawing operations. Western firms have not wanted to abandon long-term relationships with employees or suppliers so have decided to cease operations.
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