3 Ways how Smart IoT Technology is helping tackle Climate Risk Challenges in Supply Chain
The supply chain has undergone rapid changes, with climate change emerging as one of the most critical disruptors. As extreme weather events rise in both frequency and intensity, they pose an unparalleled threat to global supply chains. According to the World Meteorological Organization, weather-related disasters have increased fivefold over the past 50 years, leading to global economic losses exceeding US$3.64 trillion. These disruptions are forcing companies to return to the drawing board and rethink their risk management strategies, adopting more advanced, resilient approaches that go beyond traditional methods. Climate Risk Challenges in the Supply Chain Sector Climate change affects supply chains in numerous ways, including through extreme weather, rising temperatures, and shifting precipitation patterns. These changes disrupt manufacturing processes, delay transport, and complicate logistics. A stark example is the 2021 Texas winter storm, which caused widespread supply chain dis