Companies are preparing for a 'new normal.'
, a company that helps businesses move goods and provides live tracking data on their movements, says it isn’t enough to simply know where products are. “There’s a thriving industry building those kinds of predictive analytics,” he says.
The war in Ukraine, meanwhile, is already delaying or cutting off supplies of materials and products needed by companies that make cables, seat covers, and other automotive parts in nearby countries, including Moldova and Belarus.published by the consulting firm McKinsey found that 93 percent of companies surveyed have plans to make their supply of materials and products more resilient and agile, with many looking to diversify by “on-shoring” or “multi-shoring” production.
Many of the global economic ripple effects of Russia’s invasion of Ukraine won’t be felt for weeks or even months. Russia is, for instance, one of the world’s largest exporters of fertilizer, accounting for about 14 percent of the global supply. Fertilizer prices, which were already trending upward, are now, and will likely rise further as the global supply chain struggles to adjust to yet more disruption—which in turn will place further pressure on food production across the world.