This report presents an analysis of vulnerabilities in global supply chains, explores the impacts of recent disruptions, and outlines strategies for enhancing resilience. The COVID-19 pandemic has highlighted supply chain challenges, leading to significant economic losses, inflation, and shortages. The report identifies three phases of response by businesses to the disruption, emphasizing the importance of long-term strategies such as risk assessment, nearshoring, and sustainability. The report also highlights the need to achieve greater visibility in the supply chain to fulfil due diligence obligations.
The study reveals that most businesses plan to revise their supply chain strategies, with recommended measures including inventory optimization, improved visibility, sustainable practices, and digital technology adoption. Case studies highlight digitization and advanced analytics in enhancing supply chain resilience. The report concludes with a resilience toolkit for both firms and governments, underscoring the importance of preparation, flexibility, digitalization, innovation and sustainability.