COVID-19 makes clear globalization is a fact of life. The pandemic has generated a new constellation of business risks and opportunities, the most visible of which arise from disruptions in global supply chains.
Companies need to capitalize on these changes by modernizing management of existing supply chains and executing strategies to erect new ones. There are four lessons enterprises should incorporate into their supply chain calculus and the logistics utilized to link them.
Not a one-off
First, one might harbor hope that COVID-19 is a unique event no matter whether a country’s population is rich or poor. This is highly unlikely. In the health field, experts believe a repeat pandemic will require draconian actions that will affect economic activity to mitigate contagion.