As referenced in a FORTUNE article, supply chain challenges are nothing new in a complex global market. Surging demand, container shortages, port bottlenecks, shipping price increases, trade imbalances, continue to roil economies in every part of the world.
The cracks in the supply chains existed before the pandemic. The problems — and the reasons for them — are multiple and complex, but they start with a simple fact that between 80% and 90% of the world’s goods travel at some point by ship, and shipping is in the midst of a perfect storm. Yes, thinking around supply chains has shifted from “just in time” to “just in case” and that represents a change in thinking.
Strategic partnerships have unlimited opportunities when it comes to supply chain solutions, from developing industry fail-safe options, to where and how to store excess parts and goods for the next national emergency. Other opportunities could include how industries reshore or nearshore production. These same partnerships have the capacity to work with transportation authorities to secure the necessary transportation or rail infrastructure to move goods.
Trade associations can play a meaningful role in developing resilient U.S. Supply Chains. For instance, they could lead and convene industry supply chains and serve as neutral data and knowledge integrators that gather information on points of supply chain failure. Trade Associations can bring Industries and their Supply Chains together to brainstorm solutions on major challenges including achieving resilient supply chains and a unified, cohesive, and consistent U.S. Energy policy.
Post Midterms: The U.S. needs Resilient Supply Chains. It is achievable by utilizing the collective wisdom and innovation through these strategic partnerships in order to create a thoughtful and innovative pathway forward.
Book Dan Varroney as a speaker for your meeting, conference or group and learn how to tap into the potential of strategic partnerships with industry associations from the author of the groundbreaking new book, Reimagining Industry Growth.