Supply chains are the lifeline of the world economy—delivering the goods we rely on from food to electronics—and right now those global networks are more unstable than ever.
It’s a top priority for many: Supply chain issues ranked as the 2nd biggest challenge overall for medium-sized enterprises in BDO’s Midmarket Outlook Report.
Learn from experts in the field about the biggest issues facing supply chains today and best practices for managing risks and building resiliency.
"Knowledge is power and you can use that to cushion your business from unforeseen costs."
– Charmaine Goddeeris | Senior Manager, Indirect Tax, BDO Canada
Here are some of the compounding factors that have led us to the current unstable situation, and predictions for disruptions in 2022 and beyond:
“Buy American” trade dispute
The U.S. imposed tariffs on steel and aluminum imports. Canada imposed retaliatory tariffs on a number of consumer goods
COVID-19
Ongoing labour shortage issues due to vaccination status, employees getting sick, and strikes
Suez Canal obstruction
A ship became stuck in the Suez Canal for six days, blocking access
Rising cost of transportation
Situation in Ukraine
Ongoing disputes over USMCA
Vaccination policy for the trucking industry
Microchip
shortage
Implementation of USMCA
New product qualification requirements
"The supply chain is really not a chain, it’s a network of many companies working together to provide the products and services you buy.”
– M. Johnny Rungtusanatham | Canada Research Chair in Supply Chain Management, Schulich School of Business
Unfortunately, it’s impossible to eliminate all risk when it comes to supply chain disruptions. However, there are a few key steps you can take to mitigate those risks and protect against losses.
"Risk management is now a science. There are tricks, prototypes, and templates for managing risk from analysis all the way to mitigation."
– Patrick Etokudo | General Manager,
Operations Services, Sherritt International Corporation
“Like with any important initiative in your organization, the tone needs to come from the top. Leaders need to communicate that supply chain risk management is a priority and ensure sufficient resources are invested.”
– Josiane Simon | VP, Risk Advisory Services, BDO Canada
“The issue with pushing a ‘buy Canadian’ or ‘buy American’ agenda is that our supply chains are already integrated, and it can become problematic. We can look into domestic shoring, but we have to do it in conjunction with our trade partners.”
– Matt Poirier | Director, Trade Policy, Canadian Manufacturers & Exporters (CME)
BDO’s team of experts can help you enhance your company’s ability to identify, prepare for, and respond to supply chain challenges.
Josiane Simon
Vice President, Risk Advisory Services
BDO Canada
514-931-0841 | josimon@bdo.ca
Charmaine Goddeeris
Senior Manager, Indirect Tax
BDO Canada
905-946-1066 | cgoddeeris@bdo.ca
“Buy
American” trade dispute
The U.S. imposed tariffs on steel and aluminum imports. Canada imposed retaliatory tariffs on a number of consumer goods
“Like with any important initiative in your organization, the tone needs to come from the top. Leaders need to communicate that supply chain risk management is a priority and ensure sufficient resources are invested.”
"Risk management is now a science. There are tricks, prototypes, and templates for managing risk from analysis all the way to mitigation."
– Josiane Simon | VP, Risk Advisory Services, BDO Canada
COVID-19
Ongoing labour shortage issues due to vaccination status, employees getting sick, and strikes
– Patrick Etokudo | General Manager,
Operations Services, Sherritt International Corporation
Suez Canal obstruction
A ship became stuck in the Suez Canal for six days, blocking access
Supply chains are the lifeline of the world economy—delivering the goods we rely on from food to electronics—and right now those global networks are more unstable than ever.
It’s a top priority for many: Supply chain issues ranked as the 2nd biggest challenge overall for medium-sized enterprises in BDO’s Midmarket Outlook Report.
Learn from experts in the field about the biggest issues facing supply chains today and best practices for managing risks and building resiliency.
Rising cost of transportation
Situation in Ukraine
Ongoing disputes over USMCA
Vaccination policy for the trucking industry
Here are some of the compounding factors that have led us to the current unstable situation, and predictions for disruptions in 2022 and beyond:
Microchip
shortage
Implementation of USMCA
New product qualification requirements
"The supply chain is really not a chain, it’s a network of many companies working together to provide the products and services you buy.”
– M. Johnny Rungtusanatham | Canada Research Chair in Supply Chain Management, Schulich School of Business
Unfortunately, it’s impossible to eliminate all risk when it comes to supply chain disruptions. However, there are a few key steps you can take to mitigate those risks and protect against losses.
“The issue with pushing a ‘buy Canadian’ or ‘buy American’ agenda is that our supply chains are already integrated, and it can become problematic. We can look into domestic shoring, but we have to do it in conjunction with our trade partners.”
– Matt Poirier | Director, Trade Policy, Canadian Manufacturers & Exporters (CME)
BDO’s team of experts can help you enhance your company’s ability to identify, prepare for, and respond to supply chain challenges.
Josiane Simon
Vice President, Risk Advisory Services
BDO Canada
514-931-0841
josimon@bdo.ca
Charmaine Goddeeris
Senior Manager, Indirect Tax
BDO Canada
905-946-1066 cgoddeeris@bdo.ca
"Knowledge is power and you can use that to cushion your business from unforeseen costs."
– Charmaine Goddeeris | Senior Manager, Indirect Tax, BDO Canada