COVID-19 Has Revealed That Global Supply Chains Are A House Of Cards: Analysis
The coronavirus pandemic has laid bare many uncomfortable truths regarding society’s overall preparedness for low-probability but high-impact events, especially global ones.
These range from issues pertaining exclusively to pandemic readiness – like the capacity to produce personal protective equipment, ventilators, sanitiser and vaccines – to matters that are considerably less esoteric, like the ability of global supply chains to operate regardless of the various stresses put upon them.
The latter goes far beyond the toilet paper supply issue experienced early in the pandemic. It expands to include a whole range of products like lumber and other building materials, tools, foodstuffs, seeds, furniture, cleaning supplies, aluminum cans, jars, pools and pool equipment, chemicals, bicycles, camping gear, household appliances and replacement parts of all kinds.
In many cases supply chains have been simultaneously squeezed on both ends — supply and demand.
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