Over the weekend, reports surfaced that Iran’s parliament approved the closure of the Strait of Hormuz, a key maritime chokepoint responsible for the passage of nearly 20% of the world’s oil and gas. This response follows a U.S. attack on Iranian nuclear facilities and has already triggered rerouting efforts among global shipping giants causing a spike in transport costs and threatening supply chain stability worldwide. For finance leaders and CFOs, this development underscores the critical need for future supply chain tracking strategies. Relying on traditional
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