The problem of modern slavery — coercing labor from ethnic minorities and economically disadvantaged adults and children — has lurked in global supply chains for decades. But trade laws in recent years have made it crucial for businesses to address this risk now in their supply chains — or face serious consequences.
Technological advancements like RFID and GPS have revolutionized supply chain management, providing visibility and rapid response capabilities, but also increasing risks such as cyber threats. A combination of physical barriers, technological solutions, and procedural controls creates redundancies that enhance resilience against threats like theft and tampering.
Disruptions to global supply chains aren't going away anytime soon. Jason Tham, chief executive officer with Nulogy, explains how companies are addressing the problem with technology.
Safety-driven cultures protect drivers, employees, public motorists, and overall freight commodities. Using a safety focused transportation service grounded in well-being and risk management can deliver incentives and wide-ranging benefits.
Allianz estimates that global trade will increase by 2.8% in 2024 — below the average of 5% — blaming that on disruptions brought on by the Red Sea crisis.
The chemicals industry, which contributes trillions of dollars to the global economy every year, is undergoing a significant transformation due to recent social and political trends.
Gartner predicts that by 2028, 70% of companies will adopt regionally diversified supply chain models to improve network resiliency in the face of ongoing global disruptions.