When problems companies that will be around in the future adapt and adjust. Incidents like the blocking the Suez Canal create risks for companies that rely on those products to keep operations going. We also cannot ignore the geopolitical pressures that are in play from COVID, global warming and US manufacturing reemergence. Conducting an environmental scan can help to determine risks to U.S. companies and why they may want to rebalance their supply chains to include a certain percentage from the U.S./Canada and Mexico. Read Environmental Scan
Statistically every supply chain will have a disruption at some point. Yet this incident perked the ears of the U.S. business community that may want to adjust their supply chain strategies. The ship will likely be dislodged in the coming days but the incident does perk ears in terms of long-term risks of supply chain disruption in the U.S. and abroad. If your company relies on imports and you have a 2-3 week delay 1.) Is there local capacity to fill the gap? 2.) Can your business eat the cost?
Manufacturers need secure supply chains that could be fostered through more local suppliers. Read what Captain Andrew Kinsey states about supply chain disruptions to manufacturers HERE. Shorter supply chains could also mean opportunities to develop more efficient supply chains by considering the merits of a distribution hub in Delta County Michigan. You can rea d about the possible economic benefits of developing the Great Lakes manufacturing base through infrastructure enhancements Delta County Export Infrastructure