Many executives are hoping that the COVID-19 pandemic is a once-in-a-lifetime event. However, as the adage goes, “hope is not a strategy.” There are ways to stand out and better navigate the storms of the next inevitable disruption. These include reimaging your supply chain strategies...
supply chainsvaccinesMany months after COVID鈥vaccines were first authorised for public use, still limited supplies could only partially reduce the devastating loss of life and economic costs caused by the pandemic. Could additional vaccine doses have been manufactured more quickly some other way?
According to the Harvard Business Review, manufacturers in dozens of industries have had to face the pandemics impact on their supply chains. "Unfortunately, many are facing a supply crisis that stems from weaknesses in their sourcing strategies that could have been corrected years ago," wrote Tom...
1. Container shortages and high freight rates As countries closed their borders and supply chains were disrupted, shipping carriers reduced the number of operating ships to prevent economic losses. As the first COVID-19 wave subsided, economic activities began to grow and export volumes...
After the outbreak of the pandemic disease in China, strict restrictions and lockdowns were imposed worldwide. This led to supply chain disruptions, port delays, and container shortages. Moreover, consumer demands changed drastically. International trade, shipping, and supply chains wer...
“The full impact of coronavirus on supply chains might not become obvious until sometime in the next few months and beyond” “The consequences of a pandemic event are hard to predict,” saysKoray Köse, Senior Director Analyst, Gartner. “However, the risks always exist and are augmented ...
Next steps: Supply chains at an inflection pointThe COVID-19 crisis put supply chains into the spotlight. Over the past year, supply-chain leaders have taken decisive action in response to the challenges of the pandemic: adapting effectively to new ways of working, boosting inventories, and ...
Covid-19 has significantly changed how people have been handling their daily activities, including shopping. The CPG industry has been the most affected as everyone must use a product belonging to the industry. The trends stated above are here to stay as they help people handle their daily acti...
From just-in-time to just-in-case supply chainsA supply chain that is dependent on a single source is vulnerable to paralysis when that source gets cut off – that’s concentration risk, which COVID-19 has made the dominant focus for businesses.In response, companies may accelerate efforts ...
The truth of this statement was writ large during the global COVID-19 pandemic, which has revealed opportunities to improve the environmental impact of global supply chains across most – if not all – sectors and societies. Economic and societal costs have been significant – the International Mo...