All the evidence indicates that the scale of global hazardous weather events is ever increasing.
Figures from Resilinc, a global supply chain mapping, monitoring and resiliency analytics company, further highlight the urgency of this situation.
Data gathered by our 24/7 global event monitoring platform, EventWatchAI, has revealed a 289% increase in the number of potential disruptions and alerts related to extreme weather worldwide between 2019 and 2023.
Flooding disruption alerts soared by 685% world over for the same period.
Our data ranked extreme weather the 11th highest reported global supply chain disruption last year and there’s no denying this impact.
For example, the Panama Canal, a vital link between the Pacific and Atlantic basins, has recently extended restrictions on the maximum depth for ships and limited the average transit of vessels per day due to the ongoing drought and low water levels. Consequently, such measures ripple through supply chains, causing delays, limiting production, and driving up costs and prices.
As increasingly frequent and severe weather events pose a serious threat to companies, they must take proactive action to protect and secure their supply chains. And while pinpointing the exact time and location of such extreme weather events remains impossible, there are proven strategies that businesses can adopt to prepare for and mitigate weather’s impact on the supply chain.
