COVID-19 has had a massive impact on global supply chains – what lessons can trade professionals take from the tech industry to minimize future disruptions?
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Free COVID-19 resources are available at Thomson Reuters COVID-19 Resource Center or view our free webinar: The Impact of COVID-19 on the Global Supply Chain.
The impact of the COVID-19 pandemic has created unique challenges for industries around the globe; none more profoundly impacted than global supply chains. As access to manufacturing facilities has been cut off and transportation channels have halted, companies have struggled to meet consumer demands. The current crisis exposes vulnerabilities and creates urgency for trade professionals to evaluate their processes and consider implementing redundant supplier configurations that would parallel the technology industry’s approach to disaster and recovery plans.
Suzanne Offerman, Customer Proposition in Global Trade for Thought Leadership at Thomson Reuters has co-authored an article with Fernando Magri that includes a detailed view into these considerations and more for trade professionals – All our eggs in one basket: COVID-19 demonstrates the vulnerability of global supply chains.
As with any disruption, we should use these moments to reflect and evaluate how we can best use newly gained insights into process improvements that lead to more sustainable and efficient operations, allowing us to thrive and support the communities around us.
You can keep updated on the latest news and information regarding the COVID-19 pandemic, the economic impact, and the government’s response at Thomson Reuters’ COVID-19 Resource Center.