As we navigated through 2024, the presence of national elections drew attention to an unsettling rise in cyber-attacks. These digital threats pose significant risks not only to the targeted nations but also to the intricate web of international supply chains. Consequently, businesses worldwide were on high alert for potential disruptions that could ripple across industries.

According to a CyberArk report, 93% of organizations have had two or more identity-related breaches in the past year. This year highlighted the need to understand supply chain network relationships and vulnerabilities to avoid major damage from cyberattacks – because often by the time word of a sub-tier network attack reaches a company, it is too late.

In 2024, a wave of new environmental regulations swept across the globe, profoundly affecting supply chains in industries like manufacturing, transportation, and energy. Sustainability mandates pushed companies to integrate more eco-friendly practices, altering the landscape of production and distribution.

These shifts have not only reshaped supply chains but also demanded that businesses innovate to remain compliant. As firms embrace these changes, they are not just complying with regulations but envisioning a future where their commitment to the environment enhances their brand reputation and long-term profitability.  

The situation was further complicated by trade restrictions, with both China and Taiwan imposing various constraints that affected the technology and goods flow. In response, countries have sought to diversify their semiconductor sources, reducing dependence on this volatile region.

This shift has stimulated investments in domestic semiconductor capabilities, fostering innovation and new international partnerships. Consequently, global supply chains are evolving, as companies and governments strive to create resilient networks capable of withstanding geopolitical upheavals. 

In 2024, extreme weather events exposed vulnerabilities within global supply chains, affecting sectors like agriculture, logistics, energy, and manufacturing. Severe hurricanes devastated coastlines and inland locations, leading to port closures and infrastructure damage. Floods submerged key transportation routes, causing widespread delays, while droughts hit agricultural outputs hard, resulting in essential commodity shortages for some commodities. The Panama Canal faced operational restrictions due to low water levels during the first half of 2024, intensifying logistical challenges. In the autumn of 2024, low water levels along the Mississippi River caused restrictions in barge vessel traffic which impacted movement of agricultural and energy products.

Prioritizing sustainability and resilience isn’t just about weathering climate events—it’s about staying competitive in an uncertain future.