From VUCA to FICA world of Supply Chain
For a decade or more the world of Business and Supply Chain has been acclimatizing itself with the VUCA world. VUCA being an acronym for Volatile, Uncertain, Complex & Ambiguous. Supply Chain strategies & operations have always been anchored around VUCA. As has been abundantly proven since the onset of 2016 Trade war between US & China followed by the Pandemic and more recently the military operation of Russia in Ukraine, the world is not a VUCA world anymore. Rather is has passed that stage of VUCA to represent a new world reality of future. I think FICA is the way to perceive & act on the future order of Supply Chain. FICA for me is Fragile, Intricate, Chaotic & Anxious F - Fragile - It is more than abundantly proven in the recent past that Supply Chains have been found to be Fragile. I shall explain this in a minute with an example. In late 70s and early 80s the world found (due to organizations like WTO) that there can be an opportunity for a global Suppl...