Industries need to learn the lessons needed from pandemic-related supply chain disruptions to mitigate the next global crisis. That was “Retail Prophet” Doug Stephens’ message to the 26th Hardlines Conference last week in Niagara-on-the-Lake, Ont.
“We haven’t learned much about supply chains in at least 160 years,” Stephens told conference delegates. He illustrated his point with the example of the U.S. Civil War’s impact on the global cotton trade, adding “we’ve seen this movie before.” In the future, Stephens said, industry stakeholders will need to be better at sharing risk and being transparent about their data.