Geo-economic factors are changing the shape of supply, say Glenn A Steinberg of EY and UST’s Jonathan Colehower
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Joe Boutte's curator insight,
October 17, 2022 12:03 PM
The Cybersecurity Framework Profile for LNG (Profile) provides a voluntary, risk-based approach for managing cybersecurity activities and reducing cyber risk to the overall LNG process. The Profile is a supplement to current cybersecurity standards, regulations, and industry guidelines that are already being used by the LNG industry.
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The changing chains!
From its inception in the 1980s to today, the term "supply chain" has evolved, especially in light of the pandemic and geopolitical events. The game has shifted from a linear chain concept to a dynamic network configuration.
Key insights:
- "Supply chain reinvention is in vogue," says Glenn A. Steinberg of EY. Balancing cost, service, quality, and speed is no longer sufficient—resilience and sustainability are paramount.
-The transition from a unipolar to multipolar economic order impacts global supply chain architectures. Every company is now re-evaluating where to place their physical assets.
-End-to-end visibility is foundational for resilience, emphasizing the importance of cybersecurity in our interconnected era.
-Jonathan Colehower of UST observes a move towards network-based supply chains, suggesting the future involves "many-to-many trading networks" with controlled visibility.
-Trust remains a core concern—how much are partners willing to share?
-EY’s study predicts 2025 as the dawn of autonomous supply chains, powered by the mastery of data.
Steinberg and many others believe that today's supply chains must rapidly adjust to real-time events.
#SupplyChain #GeoEconomics #FutureTrends