What can you do right now to strengthen your market position?
For those following the Red Sea Crisis, ocean shipping is currently facing premium surcharges, significant delays, and in the case of A.P. Moller Maersk, paused transits ‘for the foreseeable future’.
Whilst it's tempting to rely on existing relationships to make your next strategic move, we recommend you prioritize these four steps:
- Immediately flag to your CFO that freight costs will be much higher than expected/budgeted
- Prepare to use air freight more than expected to minimize supply chain disruption
- Prepare operationally to negotiate spot rates throughout H1
- Use market data to continually monitor the situation and make data-backed decisions
Navigate the uncertainty and minimise supply chain disruption by following the four steps in this guide.