By Habibat Aliu
Stakeholders in the cargo delivery and supply chain industry have called for an adaptive framework for managing volatility, uncertainty, complexity, and ambiguity (VUCA) issues to minimise the effects of continuous disruptions in the sector.
They argued that the need was pertinent as businesses in the sector are linked and dependent on partner businesses along the value chain, thereby reinforcing the need for businesses to understand the dynamics, adapt, and thrive in the unstable and unpredictable business environment, where disruptions have become the new normal.
Convener of Haulage and Logistics Magazine Annual Conference and Exhibition (HAULMACE), Alfred Okugbeni, said this year’s theme ‘Developing an Adaptive Framework in the Nigerian Haulage and Logistics Industry: An Imperative for Stability in a VUCA Environment,’ was chosen, following the global instability and unstable business environment the world is experiencing due to the impacts of COVID-19 and Russian-Ukraine war.
He said the conference; scheduled to hold on Nov 22, 2022, in Lagos, will bring stakeholders to explore paths to minimise the impacts of the disruptions on businesses in Nigeria.
“The Nigerian economy is far from being isolated and has been heavily affected by these world events given our dependence on the external and the linkages that have made us very vulnerable to these external and internal shocks. The economic indices are not looking good and the future looks more unpredictable than ever.
“In all of these, however, businesses must continue to find a way to understand the dynamics, adapt and thrive,’ he said.
