Put yourself in the role of a CEO of a company with a global Supply Chain. Based on the critical importance of having an effective Supply Chain, discuss what issues going on in the world right now will have possible impacts to your Supply Chain and how can you mitigate that risk?
Write about 300 words.
1The ongoing impact of the pandemic (COVID 19) has shown the
importance of the supply chain than never before. This pandemic has
changed the business environment all over the world. The commercial
entities and the economy are facing many operational disruptions
these times. Another issue is the sudden changes in trade laws in
various countries. Many companies are ill-prepared to face all
these barriers in the global supply chain. There are delays in
cross border shipments due to a large line of trade regulations
that oughts to be cleared. Another issue is the force from the
authorities to migrate into entirely new software and procedures.
Changing into new methods is too costly and they compel to shift
from one to another without any guarantee and interval.
All these changes and issues that the companies now face are directly or indirectly connected to COVID 19 pandemic. The entities should be keen enough to calculate the future disruptions to mitigate the loss they may face. Another aspect is the influence of policies, political tensions from countries, and trade wars. The key thing to work out in this scenario is to analyze closely how the supply chain responds to a few tensions in their trade. There should be more investment yet to come in supply chain resilience. Companies should begin to seek out a new more diversified supply base to form a more flexible and cost-efficient model. There should be more research in forming a more sustainable supply chain in the future
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