Since the beginning of the COVID-19 pandemic, many businesses have managed to stay afloat by diversifying their supply chains.

International trade relationships are rife with hidden risks that can completely up-end a company because of expensive fines, imprisonment, revocation of privileges, and brand tarnish.

Some of America’s leading chip-equipment manufacturers are pulling workers from China’s largest chip maker because of new U.S. restrictions on semiconductor exports.

The supply chain ecosystem won’t revert to its pre-pandemic state. With this in mind, manufacturing organizations are placing top priority on modernizing procurement technology.

The luster of China as a source of low-cost production has been progressively fading, and the push for more responsible supply chains extends well beyond measuring carbon emissions.

In these times of global crisis, there’s never been a greater need for the socially responsible organization.

While ESG efforts have long aimed to increase transparency, many leaders are realizing that we’re moving past bare-minimum standards into an era of full visibility.

The pandemic has inflicted serious damage in the last two and a half years, but there may be a silver lining for companies smart enough to take advantage of the opportunity to develop a more resilient supply chain. 

The food industry as a whole has met widespread challenges.

Consumers worldwide will buy or boycott a brand solely based on its level of compliance with environmental, social and corporate governance (ESG) requirements.