Companies need to fortify supply chains for “a flock of black swan” events, says Toll Group executive chairman Thomas Knudsen

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Companies must build supply chains for robustness, not resilience, because “a black swan event has become a flock of black swans,” Thomas Knudson, executive chairman of logistics company Toll Group, said Tuesday. Supply chain shocks have piled up since 2020, following the COVID pandemic, Russia’s 2022 invasion of Ukraine, Trump’s 2025 tariffs and the end of de minimis, and finally the U.S. war with Iran and the closed Strait of Hormuz. Before 2020, Knudsen said resilience meant reacting—waiting for a crisis, then calling for help. “And then we call our banks, our logistics companies, and we say, ‘Hey, can you help us get out of this problem?’” he said at the Fortune Southeast Asia 500 Summit in Ho Chi Minh City, Vietnam. “Now suddenly you’re looking at your tier two, three, and four suppliers,” he added. “We’ve got to build a supply chain that’s much more robust.” Toll Group, founded in 1888 and currently owned by Japan Post, runs freight forwarding and contract logistics across…

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• Finance-aware sentiment: neutral (+0.00 on a -1 to +1 scale).
• Event classification: OTHER.
• Market importance score: 31/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.