Supply Chain and Heavy Industry
Chemical industry, as well as other industries, has experienced the perfect storm of supply chain disruptions over the past few years. Leaders are now building in flexibility for faster response to critical risks. Recent developments show that supply chain disruptions are much more frequent now and causing more problems. Therefore, the chemical industry organisations need to be better connected with their ecosystem (downstream and upstream) to spot the early signs and react faster to disruptions. Read more at Forbes, Online 2023.
The world economy is still rocky. A continuing war in Ukraine. Growing tension between China and trading partners. Unrest in Sudan. The unstable geopolitical arena contributes to the uncertainty and constraints in the supply chain. Experts anticipate no supply chain normalcy in the near future. Read more about the current challenges and the recommended steps to take in order to improve the supply chain excellence at Forbes, Online 2023.
Post-Covid economic recovery in chemical sector is now challenged by the war in Ukraine. European chemicals sector suffers most, given its dependence on supply from Russia and Ukraine. This dependancy affects inputs, supply chain, operations and end-markets. Longterm implications are harder to predict, but could include new manufacturing hubs and acceleration of chemical recycling. Read more at Bain & Company, Online 2022.