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As we witness the unfolding crisis at the Panama Canal, where a severe drought is halving its capacity for ship passage, it begs a crucial question in procurement and risk management: Is this a Black Swan event or a Grey Rhino? 🔍 A Black Swan is unpredictable, carrying a massive impact. A Grey Rhino, on the other hand, is a highly probable, high-impact threat that is often neglected until it's too late. The situation at the Panama Canal might initially seem like a Black Swan, but closer inspection aligns it more closely with a Grey Rhino. 🌱 In my recent discussions, including insights from my book "Profit from the Source," I emphasize this distinction as vital for procurement strategies. The Panama Canal crisis serves as a critical lesson: Visibility of Risks: We often overlook clear and present risks in our global supply chains. Proactive Planning: It's essential to anticipate and prepare for these risks, not just react when they materialize. Adaptation and Resilience: This situation underlines the need for flexible and robust procurement strategies capable of weathering such disruptions. 💡 The Panama Canal's struggles are a stark reminder: In our interconnected world, what appears as a distant risk can quickly become an immediate challenge. Let's reflect and discuss: How can we better identify and prepare for Grey Rhino events in our industries? Are there any imminent risks we are currently overlooking?