In addition to labor, access to key materials is concentrated in key areas. The skills developed and the sheer size of the labor pool makes it improbable. When it comes to factors like access to labor, it becomes an improbable task to reproduce a labor market the size of say China or India. As we began to study supply chains, it became obvious why the supply chain strategies have evolved in this fashion. While this strategy appears to be a viable solution, as there will be some shortening of supply chains moving forward, it is not realistic to expect that a vast global supply chain network will not continue to exist. 1.Global Supply Chains are Here to StayĪt the start of the pandemic, many voices were calling for the shortening of supply chains and an equal number calling for the reshoring of products. However, four key lessons stood out that are worth exploring as they are likely to continue throughout the pandemic and beyond. There are several observations, best practices, and lessons learned we could discuss. Risk Management on the World Stage – Lessons LearnedĪs we step back and review the impact of COVID-19 on the flow of goods and services, we see how organizations and supply chains have responded. Many nations are now facing the prospect of new lockdowns which will undoubtedly further impact global supply chains. This immense human toll is also accompanied by a huge economic toll as cases continue to climb and widespread vaccines are still many months away.

At the time, this article is being drafted, COVID-19 Cases have topped 59M, underscoring how much the world has endured in 2020. Now nearly 10 months later as many industrialized nations are facing a new peak in infections, it is a good time to review these recommendations, take stock of what we have learned, and discuss how organizations can prepare for this new spike. In a blog at the very start of the COVID-19 outbreak when confirmed cases had just exceeded 40,000, we discussed the considerations for organizations facing the outbreak. Supply Chain Strategies: What the Pandemic Has Taught Us So Far?

Supply chain best practices examples