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A single ship lodged sideways for six days. Global trade paralyzed. Billions of dollars in goods delayed. The Ever Given incident in the Suez Canal wasn't just a maritime mishap—it was a wake-up call for procurement professionals everywhere.
When the massive container vessel blocked this critical waterway in March 2021, it created ripple effects that reached every corner of global commerce. Overnight, companies faced empty shelves, production delays, and frantic calls from customers. What exactly happened when this 400-metre behemoth ran aground, supposedly due to "strong winds"? And more importantly, what lasting impacts did it have on how we approach supply chain risk?
Through our signature blend of analysis and humor, we dissect this fascinating supply chain duck-up that affected everything from oil prices to electronics deliveries. We explore the critical role of force majeure clauses in contracts, questioning whether this truly qualified as an "act of God" or revealed deeper vulnerabilities in our logistics networks. As procurement professionals, should we have anticipated something like this? And how did the most successful companies respond when their carefully planned delivery routes suddenly vanished?
This episode offers valuable insights into business continuity planning, the limitations of just-in-time inventory models, and the strategic shifts toward nearshoring and diversified supply bases that followed the incident. Whether you're managing global supply chains or simply curious about how one sideways ship could cause $60 billion in losses, this conversation will change how you think about procurement resilience.
How would your organization handle a Suez-level disruption? We'd love to hear your perspective!
Please get in touch as we love to hear from you listeners! You can use the "text" function above or drop us on email: [email protected] or visit our website www.letstalkprocurement.co.uk
It would also mean the world if you can drop us a cheeky 5* rating on your platform of choice,
Cya Later
Chapters
1. Introduction to Let's Talk Procurement (00:00:00)
2. Ways to Connect with the Hosts (00:03:21)
3. The Ever Given Incident Explained (00:06:31)
4. Force Majeure and Contract Implications (00:11:38)
5. Impact on Global Supply Chains (00:19:23)
6. Business Continuity and Response Planning (00:27:33)
7. Closing Thoughts and Final Jokes (00:35:43)
61 episodes
