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Hurricanes, floods, tornadoes, and even astrological events, such as solar flare ups, can impact the ability of supply chain entities to transport goods. This also includes supply chains who are not directly transporting goods to and from other countries. Mounting Market Risks Can Damage Brand, Compliance Measures, and Reputation.
In April of 2022, British American Tobacco, headquartered in the UK, agreed to pay $508 million in fines for selling their products to NorthKorea. Secondly, one core supply chain application is a transportation management system. It is important to know the total landed cost inclusive of transportation and tariff costs.
Entire warehouses full of products, as well as significant links in the global supply chain could be affected, as well as transport and other nodes. It could be extra freight and workforce overtime and probably other categories of cost which would accrue as an associated loss risk to any event.
NorthKorea : The more missiles NorthKorea launches and tests, the greater the risk for military conflict — or worse. In short, relations between the United States and NorthKorea have significantly degraded this past year and it doesn’t look like things are going to improve anytime soon.
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