But in terms of supply, any impact, Graham says, should be temporary. Current weak consumption and low demand for goods in Europe means that any knock-on effect is expected to be minimal.

“There’s still low growth in goods demand, which means goods and parts shortages are unlikely – and there’s little need right now for additional safety stock, with inventory levels outpacing demand,” Graham explains.

With demand for goods currently in a lull that has led to as much as a 20% inventory surplus, safety stock is not a big concern for the moment.

“Unexpected events disrupting supply chains continue to emphasize the need for both robust contingency plans and flexibility in logistics operations,” Graham concludes.