The global credit crunch is jeopardizing the financial health of our supply chains. In 2009, companies should reassess suppliers' financial stability and implement processes to spot operational red flags that are early warning signals of financial stress.

Because of margin and market growth pressures, life sciences supply chains are more dynamic than ever before. In 2009, best practice companies will continue to put in place data analysis processes and "human knowledge" collection procedures to spot red flags and safety risks in their end-to-end supply chains.

The instability of the international container shipping sector, capacity withdrawal on some routes and "slow steaming" practices will expose exporters and importers to greater risks.

2009 is certainly shaping up to be a difficult year for manufacturers. Tight credit markets, poor consumer confidence and retail sales, along with low manufacturing activity, suggests that overall supply chain investment activity will be reduced and cost-savings activities will be prioritized.

As the financial crisis ripples through the global economy, supply chains will need to re-invent themselves and deal with uncertainty at all levels: economic, financial and regulatory. The need to balance short-term needs with long-term investments in global supply chains will add significant uncertainty to global supply chain operations.

Staying afloat during times of economic challenge may require companies to rethink the way they have traditionally conducted their businesses. Finding ways to standardize and streamline processes may be essential to reducing costs within the demand/supply chain planning functions.

As we become increasingly globalized, with more tiers and more hands touching the ingredients in our end-to-end food supply chain, the need for food traceability will only increase.

To minimize potential liability and financial damage, organizations need to be proactive and have demonstrable systems in place to manage food safety risks across their supply chains.

If history is our guide, sales of food and beverage products will rise in the economic downturn. Food staples (cereal, bread, milk) along with convenience meals will gain volume as more families eat at home. It appears that 2009 is a time for food and beverage manufacturers to create big brands in big economies.

"Proactive" visibility is what matters most in effectively managing supply chain disruptions, i.e., when companies get the right information when it matters, from all critical internal stakeholders, as well as external supply chain partners. Companies need to have event management capabilities to aid in this process.