The Ukraine-Russia War’s Impact On The Supply Chain: Why MRO Optimization Is A Top Priority

The Ukraine-Russia War’s Impact On The Supply Chain: Why MRO Optimization Is A Top Priority

Share to Linkedin If the Pandemic crippled the global supply chain, the war in Ukraine knocked it to its knees. The greatest supply chain challenge today is a prolonged Ukraine-Russia war. Beyond uncertainty, it creates barriers in the market, disrupting the movement of commodities like auto parts, oil, and grain. Moreover, this profound impact on our supply chains comes with attendant near weekly price increases, fueling the fires of inflation. As a result, most businesses and millions of consumers worldwide are feeling economic pain. Supply Chain and the War A recent Dun & Bradstreet report, "Global Business Impacts: Russia-Ukraine Crisis," cites that nearly more than 600, 000 businesses worldwide rely on Russian and Ukraine suppliers, with just over 90% based in the US. Those high numbers are partly due to the oil, gas, wheat, corn, sunflower seed, semi-finished iron products, and other staples of American life exported from Russia and Ukraine. So finding new avenues for these products has seemingly overnight become an urgent discussion. Economic Fallout in Ukraine and Russia Russia's invasion has shocked Ukraine's economic landscape. The World Bank reports that Ukraine's economy will shrink by 45% this year. It could drop even lower depending on the severity