Unpredictable and unprecedented global emergencies such as COVID-19 can disrupt almost every industry around the globe, and global supply chains are no exception. The effect of a worldwide crisis like Coronavirus is enormous and is impacting economies in all corners of the world. And global supply chains are at the frontline. From raw materials to finished products, supply chains across the globe have been significantly impacted almost instantly and overnight.
COVID-19 has highlighted the urgent need for companies to prioritise the transformation of traditional supply chain models. Companies must rethink supply chains altogether and consider alternative measures such as digital sourcing technology to minimise further risk and disruption.
THE STATE OF PLAY – GLOBAL SUPPLY CHAINS ARE SUFFERING
The global supply chain industry is hurting. Countries and industries around the world are handling the current crisis differently. So, what is the next step for leaders to overcome the challenges? Read more on opening new supply lines and how to continuously adapt supply chain strategies at ioscm.com