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UK and mainland European companies are following suit .
Shifts like these should at least make supply chains a bit more robust in future , even if this probably also leads to higher prices . At the same time , we see efforts to anticipate future crises . The EU and US plan to develop an early warning system to identify future global disruptions to semiconductor supply chains , which have affected everything from production to cars to video game consoles . More broadly , a recent UK report called on the government to establish a resilience task force and work with industry to increase visibility within supply chains .
That sort of approach would be well worth implementing . Supply chains are going through their most turbulent period in many years , but learning lessons and adapting will hopefully mean that the worst can be avoided in future . CLA
Herbert Bieser | Pixabay
Original article source : Marinelink
Shanghai is home to the world ’ s largest sea port that spans nearly four square kilometres .
The weaknesses in this “ just-in-time ” system were exposed by COVID and the US / China trade war , and now many companies are putting more emphasis on being resilient and also having a clearer view of all the suppliers in the chain . In this “ just-in-case ” model , some inefficiencies are considered an advantage rather than a waste of money .
Cost is still of course a key consideration , but product quality and availability are now seen as more important . Companies are also diversifying their supplier base so that they are not as dependent on China ( with the additional benefit of reducing their carbon footprints ). US players such as Walmart , Boeing and Ford are among those turning to locations nearer their home markets , while numerous
Product quality and availability are now seen as more important .
COLD LINK AFRICA • July / August 2022 www . coldlinkafrica . co . za 11