What is the similarity between hose meat and Collateral Debt Obligations (CDOs)? They both can destroy your business only because you blindly trusted your suppliers. Careless handling of unverified CDOs ignited the sub-prime mortgage crisis. As for the horse meat…
The horse meat problem is growing across Europe. Currently it seems that there are some international organised crime that substituted more expensive beef with cheaper horse meat, benefiting in the process.
The real problem is not that horse meat is poisonous or something. The problem is that if a meat of an unknown origin entered the food chain, then it has not been properly tested, so chances of an actual disease are much higher. Plus, if meat can be easily substituted just like this, nobody knows what other dark secrets lurks in the food supply chain.
It turned out that the food chain operates mostly on trust, with very little control. So little, in fact, that I would call such a trust blind. Which is not a good kind of trust because it does not much trustworthiness, and it shows.
It would be worth for you and for me to look at our supply chains and see if some dark secrets linger there. Whether your trust is always met by someone’s trustworthiness. Whether you are not taking too much of a risk. Tools such as TraCoDA can help trace all the important relationships
As for me, I wonder whether I should take up hunting.