The Lagos Chamber of Commerce and Industry (LCCI) and PricewaterhouseCoopers (PwC) have urged businesses to reinvent their strategies in a bid to stabilise challenges confronting supply chains.
Speaking in Lagos at the PwC’s Consumer and Industrial Products and Services (CIPS) industry breakfast, themed “Building Supply Chain Resilience in a Dynamic Operating Environment: Building the Future, Rewriting the Future”, the Director-General of LCCI, Dr. Chinyere Almona highlighted disruptions from post COVID pandemic, geopolitical conflict and economic pressures as part of the factors challenging the stability of supply chains.
“Experts have said we are in a global crisis era where challenges are coming up at the same time, but not only coming at the same time, they are influencing each other.
“They are making the impact of one more than it should be, and it started with the COVID pandemic, but the lingering aftershock after the pandemic, because we continue to experience delays, shortages, supply chain disruptions, and have spillover.”
In order to avert disruptions and build resilience in supply chains, she urged business leaders to regularly conduct supply risk audits.
The Country Senior Partner, PwC Nigeria, Sam Abu, underscored the importance of supply chain, saying it plays a vital role in driving growth, helping businesses adapt, remain competitive, and translating economic opportunity into sustainable success.
