Oliver Chapman, CEO of OCI - UK's No.1 Fastest Growing Company 2022 - Comments & Opinion
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PRESS RELEASE - Comments & Opinion

Supply chain specialists OCI comments on the supply chain implications of the Atlantic Declaration

LONDON (June 9, 2023) The UK Prime Minister Rishi Sunak and US President, Joe Biden have agreed on The Atlantic Declaration. An important part of the Declaration involves collaboration in building a robust supply chain. Oliver Chapman, CEO of supply chain specialists OCI, the UK’s fastest growing company in 2022, comments.

“The Atlantic declaration states that the UK and US will be working ‘together to reduce our vulnerabilities across critical technology supply chains, including by sharing analysis, developing and deepening our channels for coordination and timely consultation during crises.’

“It also talks about the two countries building resilient, diversified, and secure supply chains and reducing strategic dependencies.

“OCI also emphasises the importance of building a resilient supply chain — in other words a supply chain that can bounce back from adverse developments. 

“Furthermore, OCI talks about the need for a robust supply chain — the ability to withstand shocks — and increasing redundancy in the supply chain — meaning spare infrastructure in case of sudden changes. 

“At a government level a resilient, robust supply chain, with redundancy, is critical — defence for example requires it, so does the economy.

“But even when you drill down and look at the supply chain from the perspective of individual businesses these three requirements remain vital.

“It all ties in with the imperative to know your supplier’s suppliers (KYSS).

“Furthermore, one lesson of recent supply chain shocks, caused for example by the war in Ukraine, is the need to reduce over-reliance on any one region.

“Likewise, there is danger in allowing supply chains to become over-reliant on China. This is illustrated by the dominant position China holds in rare earth elements, which are critical to modern technologies including smartphones and renewable energy.

“But reducing reliance on China is neither going to be easy, nor achieved rapidly. China does not hold any particular geographical advantages in the mining of rare earths, but it has developed a sophisticated supply chain, giving it an ecosystem which supports the refining of rare earths.

“Likewise, China has a dominant position in battery production, especially in the supply of cathodes and anodes for batteries.

“The US Inflation Reduction Act may well serve to ultimately allow the US and maybe via the Atlantic Declaration, the UK, to build critical infrastructure to supply chains which are not overly reliant on China. (Competition is good, but a situation in which one region holds an effective monopoly is not desirable.) But this will take time, probably several years.”

Oliver Chapman, CEO of OCI, the UK's No.1 Fastest Growing Company, and 3rd in Europe - Financial Times FT1000 2022

About OCI:

OCI is the world’s first in commercial process outsourcing. It redesigns supply chains for organisations, to drive growth.

Working capital cycles are at their longest ever, restricting businesses’ potential for growth.

OCI harnesses technology and commercial process solutions to free working capital from supply chains.


OCI’s unique approach eases financial constraints, making businesses more agile, accelerating their growth.

Editor's note: According to the recent FT 1000 fastest-growing companies, OCI is the No.1 fastest-growing company in the UK, and the 3rd fastest-growing company in Europe.

The FT 1000 is the result of a joint initiative by the Financial Times and Statista, which conducted months of research, public calls for participation, intensive database research, and directly contacted tens of thousands of companies. In the end, it identified outstanding companies among millions of European enterprises.

Oliver Chapman is available for interviews and comments.

Source: FT 1000: the sixth annual list of Europe’s fastest-growing companies - https://on.ft.com/35ceokx

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