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Technology, Economics

Prediction: Technology and data is key to supply chain resilience

Technology, Economics
Marine, Energy and Transport
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Prediction

Critical supply chains relying on marine transportation in key hubs around the world may face logistical challenges similar to those encountered at the Port of Baltimore earlier this year (when the Francis Scott Key Bridge partially collapsed after being struck by a container ship), causing major disruptions and economic ripple effects on global supply chains. Revisiting guidelines and putting into place robust emergency plans will increase the resilience of supply chains internationally and in turn prevent an increase in ocean freight container shipping rates. Data sharing and the use of AI for managing the inflow of information when redistributing the affected cargo will reduce any negative effects on global supply chains.

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