b'ON THE WEBAs there continues to be uncertaintyWHERE around the future, the positive note is that consumers, from agriculture to the greater society, are getting used to a world with supply chain disruptions.With a solid business plan and a little forethought, businesses are able to con-tinue on as normal.Businesses are starting to think more about resiliency and building independ-ence, says Klieger. That might mean companies source 80% of their mate-rial abroad and 20% at home, so theyre always guaranteed to have some access. But, Klieger says companies and indi-viduals are changing their behavior and thought process as well. We are all starting to change our behavior and build in that slack and keep some inventory, she says. All of that is the result of resiliency. It can be expen-sive, but it will smooth out some of the? Make sure to watch at youtube.com/watch?v=xs1axjs69W8.Want to hear the rest of the conversation from Seed Speaksbumps in 2023.In addition, Prentice says to keep anBetween New Orleans and Batonand demand. You dont want too much eye on interest rates as we enter 2023.Rouge, theres 150 chemical companies,because then everyone is concerned While you might think they wont have anStanton says. Thats a lot of the buildingabout inventory and capital costs.impact on you, interest rates have a broadblocks of our industryso that createdBut, Stantons advice if youre still bat-effect on the worlds economy.a lot of force majeure situations for rawtling difficulties with supply chains? Be up Oil prices are coming down, and itsmaterials that were commodities no onefront and transparent with your stake-not because the oil companies finallythought about until you didnt have them.holders. While it might be a difficult con-found their heart and decided they wereWhen coupled with a whiplash ofversation to have with your customers, charging too muchdemand is lack- much needed demand in 2021 and 2022an unpleasant conversation is better than ing, he says. Were still in the momen- as the globe recovers from COVID-19,failing to meet demand. tum of that past period and the interestsupply chains have taken a major blow.Theres only so much in some cases rate impact is still starting to take effect.When COVID first started, compa- that youre going to be able to do, but I Theres going to be another interest ratenies and businesses around the worldthink communicating expectations early, rise in September. Amongst other things,had to shift to respondanything fromeven if it wasnt the best news, at least this is going to make holding inventoriesOreos to oil to air travel. Stanton says theallowed our customers to plan better, more expensive. predicted recovery time in 2020 was 4-5she says. Theres a lot of concern about years before demand growth would beupsetting customers by telling them you Expect a Slow Recovery fully back to normal. But, as the world cancant do something or meet everything Supply chain disruptions havent leftsee, that wasnt how it played out. that they want. In reality, I think every-anyone immunefrom mom-and-popWhen those demands surged back,ones aware of the challenges. If you can companies to multinationals, everyone hasyou had a whiplash effect. Now, yourplan together, that overall means youll faced some form of disruption to shakesupply chains that are still in some caseshave a better outcome.up the seed sector. Even companies likein the process of winding down need toIn the meantime, the globe is in for BASF, says Cynthia Stanton, supply chainramp up production, she says. And, theysupply chain disruptions for the long operations manager for BASF. just couldnt do it that quickly, whether ithaulStanton believes that while theres Were experiencing some of the samewas labor or production.some optimism that supply chains are disruptions, and lead times on deliveriesInstead, now its the attempt to findrecovering, it will take a long time. are just much worse than theyve been,a balancing act, with companies asking:I get asked all the time: So, when she says. It was difficult at first with theHow can you balance out the supply tois it going to go back to normal? she initial shock. meet the demand, especially when sup- says. Were seeing something more like Major disruptions have includedplies are still recovering from the shock? a slow recovery, not something that gets extreme weather events in the U.S., suchSupply chains are always trying toimmediately fixed and is perfect. Were as the Texas freeze and Hurricane Ida, askeep things in balance, Stanton says.going to be operating this way for several well as flooding in Europe.Youre always trying to balance supplyyears.SW16/ SEEDWORLD.COMDECEMBER 2022'