Invasion of Ukraine and Supply Chain Impacts.
The Russian invasion of Ukraine is exacting an immediate toll on people in the region and throughout the world. Many of our members and their associates have family and friends living in Ukraine and Russia. Thousands of those based in Europe express stress and anxiety about being so close to the front lines of this Russian aggression.
We don’t yet know how extensive or protracted the impacts of Russia’s invasion of Ukraine will be. Depending on your functional responsibilities, your focus may be on risk exposure, costs, investments, revenue disruptions, supply-chain struggles or value-chain partners. You may be grappling with other operational changes, too.
Supply Chain Canada surveyed its members to learn more about these impacts.
71% of respondents believe that international sanctions on Russia will have an impact on their supply chains, with only 21% saying their firms had mapped out almost all critical items. There is reason to believe the downstream effect may be significant.
Only 14% of respondents believe they have enough insight into their supply chains to understand, prepare and react to the Russian invasion of Ukraine. There is a lack of confidence among respondents that they have the proper tools to assess effects and potential future action.
Many respondents are ready to take action in response to the illegal invasion. 2 in 5 respondents say their company is making changes to its supply chain in protest of the Russian invasion.
Cybersecurity has begun to emerge as an issue of concern. 35% of respondents are discussing cybersecurity and business continuity with their Tier 1 suppliers in light of Russia’s illegal invasion of #Ukraine.
Call to action: Canadian Industry for Ukraine – How can I help?
The Government of Canada is making an appeal to Canadian businesses interested in providing support to displaced Ukrainians arriving in Canada. Canada has partnered with the Canadian Immigrant Settlement Sector Alliance – Alliance canadienne du secteur de l’établissement des immigrants (CISSA-ACSEI) and its national network of settlement organizations to provide direct and critical support to those in need. Donations from Canadian businesses will go to Ukrainians and other displaced persons making Canada their home.
If you own a business or run an organization in Canada and are interested in providing assistance, please refer to the resources available at https://www.canada.ca/en/services/business/call-to-action-industryforukraine.html.
COMPLIMENTARY GARTNER WEBINARS RELATED TO THE RUSSIAN INVASION OF UKRAINE.