Question

Summarize the article "Global Supply Chain in a Post-Pandemic World". The write-up has to be no longer than 1.5 pages long. In the write-up please provide answers to the following questions:

A. Based on the article and your own experience, do you think companies are more susceptible to disruption risk now than they were ten or twenty years ago? If so, why? Based on your corporate experience, give examples of decisions that have potentially resulted in increased supply chain risk. In your opinion, how impactful are corporate objectives in supporting or hindering supply chain resilience?

B. Discuss some strategies companies can use to increase flexibility and resilience in the supply chain.

C. Considering this article as well as current global events such as the pandemic, war in Ukraine, global supply chain disruptions, etc. how do you think companies need to think and act differently to avoid "going back" to old habits once the these "emergencies" are resolved?

Answer 1

The article highlights increased disruption risk in supply chains due to recent events like the pandemic and geopolitical tensions. Companies are encouraged to bolster supply chain resilience through diverse sourcing, technological advancements, and global cooperation, avoiding reverting to pre-crisis operational habits.

Step-by-step explanation:

The article "Global Supply Chain in a Post-Pandemic World" discusses the profound impact that recent global events like the COVID-19 pandemic and the war in Ukraine have had on the supply chain. These events have increased disruption risk for companies, a trend that seems more pronounced today than in the past decades due to globalization, dependency on lean inventory practices, and concentrated supply chains. Examples of decisions that have contributed to these risks include offshoring to reduce costs and just-in-time inventory systems, which, while efficient, leave little room for error or disruption.

Corporate objectives can significantly influence supply chain resilience; a singular focus on cost-cutting may undermine resilience, whereas investing in diversified sourcing and robust logistics can enhance it. To improve flexibility and resilience, companies can implement strategies such as increasing inventory buffers, diversifying suppliers, and investing in advanced technologies and transportation methods. Additionally, during national emergencies, it’s important to have policies that ensure the continuity of supply chains.

In light of these challenges and to prevent reverting to old practices when the current crises subside, companies should rethink their operations. Maintaining advancements in technology, upholding strong labor rights, and pursuing international cooperation are critical. This is necessary to prevent future disruptions in the global economy and to support recovery from the current crises observed worldwide.