ANZ Head of Trade and Supply Chain, Gareth Coleman. [Source: txfnews]

Businesses are being urged to plan ahead as operators continue to face challenges with global supply chains.

ANZ Head of Trade and Supply Chain, Gareth Coleman says COVID-19 lockdowns and closures in China as well as the Russia-Ukraine conflict are escalating bottlenecks in the global supply chains, which directly impact producers and consumers.

Coleman says the future of the global supply chain hinges on how companies navigate challenges including the pandemic, ongoing geopolitical concerns, climate change and opposing trends of globalization and protectionism.

ANZ Fiji Country Head Rabih Yazbek says he is seeing businesses looking at higher inventory levels, new suppliers and mitigating measure to maintain supply.

Yazbek says ANZ expects growth for this year.