The challenges are deep and pervasive. Suppliers are strapped for cash. There’s a shortage of labor, materials, shipping components, and containers. Freight capacity is expensive and difficult to source.
In an environment like this, where businesses everywhere compete aggressively for limited capacity and resources, investments and reliance on third parties grow. Naturally, this breeds considerable business risk if not managed intentionally and strategically.
Third parties provide scale, flexibility, expertise, and critical capacity. They also create vulnerabilities.
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