04
THE BIG IDEA
THE IT SOCIETY / Issue 02/2022
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Are You Ready for the Supply Chain Reboot?
CHONG KOK KEONG Member, SCS Digital Achiever (Individual), Tech Leader Awards 2022 Chief Executive Officer, Global eTrade Services
Global supply chains today are incredibly complex. When this highly intricate and interconnected system is disrupted, the ripple effects – from shortages to price hikes – are quickly felt by everyone. Digitalisation offers a solution at the heart of this crisis. 1
https://www.aljazeera.com/economy/2022/3/7/oil-soars-stocks-tank-as-russia-ukraine-war-rages
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his year, we witnessed how the intensifying war between Russia and Ukraine added to the global supply chain chaos triggered by the pandemic. Energy prices soared to record highs of almost US$140 a barrel1 while trading sanctions imposed on Russia restricted the flow of critical resources worldwide. There is no telling when the war will end but three key secular trends are transforming supply chains and shaping how supply chains of the future will look like.
