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WASHINGTON (Reuters) -U.S. President Joe Biden on Friday issued an executive order formalizing a White House council on supply chain resilience and mandating a comprehensive report by the end of ...
It will have an impact on the global supply chain as Russia is a significant source of 35 critical minerals vital to the United States' economic and national security interests, including 30% of the global supply of platinum-group elements (including palladium), 13% of titanium and 11% of nickel.
For a long time, the interpretation of resilience in the sense of engineering resilience prevailed in supply chain management. [1] It is implied here that supply chain is a closed system that can be controlled, similar to a system designed and planned by engineers (e.g. subway network). [5]
Supply chain resilience is "the capacity of a supply chain to persist, adapt, or transform in the face of change". [42] For a long time, the interpretation of resilience in the sense of engineering resilience (or robustness) [43] prevailed in supply chain management, leading to the notion of persistence. [42]
For example, in the United States, the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act requires manufacturers to audit their supply chains and report use of conflict minerals to the Securities and Exchange Commission. [15] Social sustainability in supply chains goes beyond just fair wages and safe working conditions.
At the time, Europe depended on China for 98% of its rare-earth needs, 97% of its lithium supply and 93% of its magnesium supply. [4] In the U.S., critical minerals that are at risk of shortage or supply chain disruption are assessed by the United States Geological Survey and by the National Science and Technology Council. [5] [6] [7] [8]
Supply chain resilience is, according to supply chain risk management expert Donal Walters, "the ability of the supply chain to cope with unexpected disturbances" and one of its characteristics is a company-wide recognition of where the supply chain is most susceptible to infiltration. Supply chain management plays a crucial role in creating ...
Between 2020 and 2023, there was a worldwide chip shortage affecting more than 169 industries, [1] which led to major price increases, long queues, and reselling among consumers and manufacturers for automobiles, graphics cards, video game consoles, computers, household appliances, and other consumer electronics that require integrated circuits (commonly called "chips").
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