{
  "id": 18270476,
  "title": "Companies need to fortify supply chains for “a flock of black swan” events, says Toll Group executive chairman Thomas Knudsen",
  "url": "https://urgent.news/2026/11/05/companies-need-to-fortify-supply-chains-for-a-flock-of-black-swan",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T07:03:10.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/11/05/companies-need-to-fortify-supply-chains-for-a-flock-of-black-swan-events-says-toll-group-executive-chairman-thomas-knudsen/"
  },
  "original_language": "en",
  "account": "Executive Chairman of Toll Group, Thomas Knudsen, warned that companies must strengthen their supply chains for resilience against \"black swan events\" rather than just preparing for occasional shocks. Since 2020, supply chain disruptions have increased due to the COVID-19 pandemic, Russia's invasion of Ukraine, Trump's 2025 tariffs, the end of de minimis, and the U.S.-Iran war. Knudsen explained that traditional resilience involved reacting to crises, while robustness requires having backup routes and modalities. However, building robust supply chains can be challenging for low-value goods due to costs. Tariffs have also driven Chinese companies to explore new markets and production locations. According to Standard Chartered's Future of Trade report, ASEAN executives' concerns about geo-economic actions have risen from 49% to 57% over the next few years. James Nesbitt, Standard Chartered's managing director, said corporate clients are making long-term commitments to the region. The ASEAN Free Trade Area has reduced tariff barriers, but only 22% of its trade occurs within the bloc. Nesbitt suggested that an integrated payment system overlay could connect the different real-time payment networks in ASEAN's 11 economies, potentially leveraging blockchain, tokenization, or stablecoins.",
  "summary": "Supply chain shocks have piled up since 2020, including the COVID pandemic, Russia’s 2022 invasion of Ukraine and Trump’s 2025 tariffs.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}