Global Chemical Supply Chains Face Disruptions
News: Global chemicals supply chains are facing unprecedented disruption, costing cargo owners over $12.2 billion annually, according to a DP World study.
The sector sees more than 17,500 logistics incidents each year, driven by border delays, geopolitical instability and port congestion. Over 90% of chemical cargo owners have experienced customs delays, while disruptions now add at least 11% to transit and lead times.
Each incident costs an average of $700,000, with many firms losing over $1 million annually. Despite these challenges, confidence remains strong, with nearly 90% of industry leaders expecting to scale in the next three years.
Digitalisation, visibility, forecasting and resilient logistics networks are identified as critical to managing risk and sustaining growth in an era where disruption is the norm.
Source: Indianchemicalnews
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