What kind of events have affected the global supply chain most often?

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Let's face it, the world can be a pretty wild place. Every now and then, global events come along that significantly throw us off-balance - especially in the way everything gets made and shipped.

From earthquakes to trade wars and pandemics... these events can throw supply chains into chaos and reveal some serious weak spots that have been glaring for years. Decades even.

Let's dig into some historically stormy seas... moments when these big global happenings gave supply chains a run for their money. By revisiting these past rollercoaster rides, we can get better prepared for whatever craziness might be around the corner and build better supply chains that can handle the turbulence.

(You know we'll need all the help we can get.)

Natural Disasters

Mother Nature loves to put on a show - that much has never changed about her. She can also be a real showstopper when it comes to supply chains.

Earthquakes, hurricanes, and tsunamis.... Take the infamous 2011 earthquake and tsunami that smacked Japan's Tōhoku region – besides the devastating loss of life, it also decimated the country's car and electronics parts production, creating shortages and driving up prices all over the world.

Lessons learned? It's wise to have backup suppliers and plans in place when the ground starts shaking. This will be all the more important as natural disasters and extreme weather remain at the top of the list of supply chain concerns in 2024.

Geopolitical Drama

Something we're all a little too familiar with these days. Sometimes it's not just the Earth acting up, but world politics.

Do you remember the trade war between the U.S. and China from 2018-2019? It was a real-life drama series - with tariffs and trade restrictions flying left and right.

This event taught us how important it is to keep an eye on politics and be ready to adapt when things get rocky. The decision-makers across the board can make changes with a snap of their fingers, good or bad.

The Pandemic Plot Twist

You knew we couldn't get through a post about supply chains without mentioning It-Which-Will-Not-Be-Named. Just kidding, I'll name it... the plot twist of all plot twists... the COVID-19 pandemic.

The COVID-19 pandemic kicked off in late 2019. It was like a never-ending rollercoaster ride with lockdowns, factory shutdowns, and transportation troubles. Supply chains were suddenly in the headlines - ports, labor struggles, a shortage of toilet paper across the globe...

The result? Global supply chains in disarray. Companies had to pivot fast by finding new suppliers and keeping extra stock on hand. Lesson learned: flexibility is key when the world goes haywire.

Economic Rollercoasters

Economic crises, such as the 2007-2008 financial meltdown (AKA the Great Recession), can borderline destroy supply chains, too. When people aren't spending money, companies suffer, and the chain of supply gets all tangled up along with it.

That crisis taught us to be financially savvy and have a plan for when the economy takes a nosedive.

Tech Revolution

Fear not - it's not all doom and gloom though.

Technological advancements, like the monumental rise of online shopping and the Internet of Things, have made supply chains significantly smarter and more efficient. Now we can track stuff in real-time and manage inventory like never before.

Companies that embraced these tech trends instead of running in the other direction were ready for whatever curveballs came their way.

Essentially, global events can throw supply chains for a loop. (That much is abundantly clear.) But they also give us a chance to shake things up and make them stronger.

By looking back at these wild times in supply chain history, we can learn some valuable lessons and be better prepared for the next crazy twist in the story.