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Blog Pick of the Week: Drought's Impacts on You
Mother Nature impacts our supply chain in so many ways that are not under our control. The drought in the U.S. this summer is impacting the farmers, and especially the corn supply. That will have an effect on many things such as the price of food and fuel. The law of supply and demand comes into play just as in the textbooks.
I came across this article that discusses the role the U.S. plays in providing food to other countries. Quickly this becomes a global issue. As a procurement professional, this situation will affect you and your suppliers in one shape or another. Regardless of whether you are in the food industry or not.
I also was reading this blog posting about lobsters. One of my summer jobs was working as a waitress in a resort that served lobster at every meal. Lobster omelets for breakfast, lobster rolls, stews or bisque for lunch and of course boiled lobster for dinner. A shortage of lobster would have been a huge problem. There is an issue here of supply and demand as this is very much a seasonal crop. This article in the Strategic Sourceror reviews alternative ideas for improving demand cycles in this industry.
Have you found the drought causing issues in your profession for procurement of products for your organization? What steps have you put in place to counteract the availability and the cost of critical items to mitigate some of what Mother Nature throws your way?