Event
GLOBSEC's Private-Public Sector Dialogue #3: Geopolitical Consequences of Global Supply Chains
Seismic geopolitical changes continue to pressure supply chains adversely impacting national defence and economies. With so much uncertainty, Koray Köse, Chief Industry Officer at Everstream Analytics led GLOBSEC's third Public-Private Sector Dialogue to provide expertise on how to increase resilience and reduce exposure.
What are the key takeaways from the event?
- Enhancing Supply Chain Resilience: Develop strategies for proactive risk management, including diversification of sourcing and leveraging near-far sourcing models. This approach helps in minimizing dependency on a single source or single country.
- The AI and Big Data Phenomena: The prevalent misconception assumes that AI will resolve supply chain issues, yet it has the potential to amplify existing underlying problems. It is crucial to include safeguards to prevent a single point of attack from collapsing the entire supply chain.
- Value-based over Cost-based: Foster trade relationships that are not only cost-efficient but also socially and environmentally sustainable. In this our procurement policies should prioritize value-based procurement over cost-based.
- Preparation for Prolonged Warfare, Off-the-Shelf Procurement & Comprehensive Cost Considerations: Emphasize readiness by building larger stocks and making existing technology "smart”. Using the principle of economic justifiability and possibly shift from quality to quantity.
