Why is it integral for companies to better diversify their supply chains?

Walter Kuijpers, Partner, Advisory, KPMG in Singapore, highlights the importance of reshaping supply chains for global trade.

In recent years, various disruptions have caused challenges for organizations to handle. Supply chain disruptions caused by Covid-19 have been mitigated, but geopolitical turmoil has led to structural changes in global trade. Walter Kuijpers, Partner, Advisory, KPMG in Singapore, highlights the importance of reshaping supply chains for global trade.

Why this is important

• 💼 Companies that rely on a single supplier or source of raw materials may be at risk of operational disruptions due to geopolitical risks.
• 🌍 Diversification of supply chains can help companies minimize the impact of trade and diplomatic disputes on their businesses.
• 💰 Reshaping supply chains can also lead to cost savings and operational efficiencies for businesses.

Original link: https://omny.fm/shows/moneyfm-morning-show/why-is-it-integral-for-companies-to-better-diversi