disruptions – COVID-19 , the Suez Canal blockage and conflict in Ukraine and the Middle East among them .
Speaking on Honeywell ’ s ‘ The Future Is …’ podcast earlier this year , Torsten said : “ The last couple of years were pretty challenging , but I do think we ’ re seeing some sort of normalisation again .
“ Things are still constrained in some areas of the world , but we ’ ve learned a lot and made our supply chain more resilient . I don ’ t think we ’ ll go back to the world as we knew it 10 years ago , but things are starting to normalise .”
On his efforts to transform and increase resilience within Honeywell ’ s supply chain , he added : “ Historically ,
Honeywell had a supply chain that was primarily focused around single sources of supply , so we were very exposed to single suppliers and sole sourcing . This was done over many years to drive productivity .
“ We changed that approach completely , so we ’ re now maybe 60 % single-sourced ; we used to be almost 90 %. We spent a lot of time and effort making our supply chain more resilient , more stable and to hedge our bets a little bit .”
READ THE FULL STORY supplychaindigital . com 33