_____________________________________________________________________________________________ Supply chain
FULL VIEW
Visibility is the tipping point in navigating supply chain issues
By Subba Rao
Continuing supply chain issues in 2023 is still important news worldwide . With existing and new geopolitical conflicts , inflationary pressures and the recessionary environment , climate change weather events still causing global supply chains and shipments to slow , it is reminiscent of the supply chain crisis which led to shortages that affected consumer patterns and heavily attributed to inflation concerns globally .
An important example of the global supply chain issues , is the ongoing global chip shortage that hit manufacturers worldwide due to different events , with the snowball effect of the Covid-19 pandemic being the primary reason for accelerating the lack of chips .
This ongoing chip shortage has cost many sectors money , as the production of certain products has been severely hampered by the issues which the deficiencies have caused . The Society of Motor Manufacturers and Traders reported that supply chain issues had subdued the UK ’ s new car market to 1.61m units in 2022 – a -2.0 percent fall on pandemic-afflicted 2021 .
As shortages continue , disruptions to supply are affecting consumers and businesses around the world , and these supply chain issues have the potential to continue to damage the reputation and lessen the revenue of a company if it is unable to fulfil the consumer demands it has promised due to a lack of inventory , and the overall cost burden impacting their bottom line .
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