The current tumult in the global supply chain is unlikely to change any time soon and the risks—and costs—of supply-chain disruption are likely here to stay, according to Dawn Tiura, president and CEO of sourcing industry group SIG, which represents sourcing, procurement, and risk professionals in Fortune 500 companies and other major enterprises.
“I think we’ve got a number of years of instability in the supply chain,” she said. “This is not a 2022 fix.”
It is an unprecedented problem, the first time the supply chain has been disrupted on a global scale since the advent of the globalization era, according to a January report by IHS Markit, a research and business intelligence firm based in London that merged with S&P Global in February. And while some executives don’t expect the supply chain to recover before 2023, problems will likely linger for years.