A staggering 80% of supply chain leaders predict ongoing disruptions for at least two years, according to a recent Maersk survey, and this could have significant implications for global trade.
The Supply Chain Crisis: No End in Sight?
The survey, conducted in Copenhagen, reveals a stark reality: the polycrisis affecting global supply chains is here to stay, at least for the foreseeable future. This comprehensive study, involving 900+ European companies, sheds light on the enduring challenges supply chain professionals face.
But here's where it gets controversial: while 78% of professionals acknowledge the impact of geopolitical dynamics and trade tariffs, nearly half (48%) express deep concern about the geopolitical climate. This raises the question: are businesses adequately prepared for the challenges ahead?
Adapting Strategies in a Turbulent World:
In response, businesses are diversifying their sourcing strategies, with 75% already sourcing from multiple locations or planning to do so. This shift is a notable increase from Maersk's 2024 survey, indicating a growing awareness of the need for flexibility.
- 80% of businesses are strengthening relationships with logistics providers and suppliers.
- 60% are investing in supply chain visibility and agility for increased resilience.
- 75% are adapting to alternative trade routes.
European businesses have faced numerous challenges over the past five years, and the volatile global environment isn't going away anytime soon. However, the focus is now on transforming uncertainty into opportunities. Many European companies are choosing to take action and grow, rather than waiting for stability.
The Cost of Inaction:
Lars Karlsson, Maersk's Global Head of Trade & Customs Consulting, emphasizes the importance of proactive measures. With over 40 years of experience, he highlights how tariffs have been a major disruption to global trade. Maersk's team of 2,700 customs brokers assisted cargo owners in navigating the sudden US tariff changes, ensuring they could stay ahead of the game.
"The sudden tariff changes kept supply chain managers up at night," recalls Karlsson. "But with the right tools and partners, even such unexpected events can be managed. Proactivity and agility are key." He suggests that having a centralized digital platform for global customs data, integrated with real-time tariff change data, is essential for control and agility.
The survey's results further emphasize the ongoing importance of tariffs, with European businesses anticipating the following challenges:
- 46% expect fluctuations in import and export costs.
- 43% predict increased trade tariffs.
- 40% foresee uncertainty in global trade policies.
About Maersk:
A.P. Moller - Maersk is an integrated logistics company dedicated to streamlining its customers' supply chains. As a global logistics leader, they operate in over 130 countries with a workforce of approximately 100,000. Maersk is committed to achieving net-zero GHG emissions by 2040 through technological advancements, new vessels, and reduced GHG emissions fuels.
*Maersk defines 'reduced GHG emissions fuels' as those with at least 65% lower GHG emissions compared to fossil fuels on a lifecycle basis.
