Supply Chain Costs Rise as CEOs Face Constant Crises: 20,000 Affected

At the Converge Live event in Singapore, over 30 CEOs reported that supply chain disruptions are causing increased costs and inflationary pressures. Shipping costs are expected to remain high due to over 2,000 vessels stuck in the Persian Gulf, impacting nearly 20,000 to 30,000 mariners. Executives noted a shift from traditional long-term planning to a focus on flexibility amid ongoing geopolitical conflicts and inflation. As companies adapt, they signal that increased costs will likely be passed on to consumers.