Global supply chains: The race to rebalance

Rarely in history have business leaders dealt with as many challenges as they have over the last three years, each
uniquely complex and compounding. And never before have leaders had to respond to them all at once.
While the COVID-19 years were about rebalancing and de-risking supply chains, we now face a new environment.
Economic volatility driven by inflation, energy crises and geopolitical tensions — among other forces — have
created a new reality for business leaders. Prices are likely to remain high for a sustained period, and it’s no longer
enough to focus on resilience and short-term profitability. Businesses need to transform to survive and grow.
To survive, let alone thrive, businesses need to consider sweeping transformation across all areas of the enterprise,
including supply chain. This requires the entire C-suite, including the CEO, taking the reins from the procurement
department and the need for speed. There’s a global race happening right now as businesses look to rebalance
their supply chains and seek new suppliers, locations and talent. The sheer volume of businesses on the move and
the finite number of alternatives mean that businesses have to compete arduously for their attention while they pick
and choose from a long line of contenders. Government incentives to attract new foreign direct investment only
intensifies this competition. Unfortunately, these incentives aren’t always the golden ticket they
seem to be