By Erik Diks, Managing Director Europe, Chainalytics | Monday | 28 November 2016
Preparing for potential effects is more effective than predicting future events, according to Chris Caplice from the MIT Center for Transportation and Logistics. He was speaking on 19 October 2016, when European supply chain leaders gathered at the Chainalytics 2016 European Executive Roundtable event in Amsterdam. In an afternoon session, the supply chain executives explored the economic, technological and geopolitical trends and challenges that will impact their businesses and strategies for years to come.
In one of the many highlights during the recent Chainalytics roundtable event, Chris Caplice, Executive Director of the MIT Center for Transportation and Logistics, stressed the importance of forecasting and scenario planning in the face of impossible-to-predict macroeconomic and technological forces. These forces, he said, can have a tremendous impact on supply chains. “No one could have predicted Brexit,” Caplice continued. “But it could have a domino effect on other countries.” He advised attendees to stay aware of potential Brexit repercussions, which could range from the need to move production out of the UK to labour migration by industry, and from trade agreement renegotiations to import price fluctuations. He also advised the participants to keep “open minds to new potential solutions and options.” Caplice concluded by cautioning the supply chain leaders that, while scenario planning is a good complement to traditional planning methods, it needs to be incorporated into a formal process. “Preparing for potential effects is more effective than predicting future events,” he said. [Full Story]