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The global supply chain is generally very efficient—however, post-COVID political and economic events have made it considerably less efficient.Summary
This article by Sarah Schiffling and Nikolaos Valantasis Kanellos, writing for 'The Conversation, notes the following:
- Inflation has reduced consumer spending
- Supply chain workforces have been reduced.
- Industrial Action has disrupted production, distribution and transport.
- Energy shortages affect the ability to deliver goods.
- Geopolitical activities, such as the Ukraine crisis, have disrupted supply chains.
- Extreme weather events have reduced agriculture production.
References
Recent Runway Posts related to this topic:
- Global supply chain crisis could last another two years, warn experts – TheRunway (airforce.gov.au)
- The global chip shortage is going from bad to worse. Here's why you should care – TheRunway (airforce.gov.au)
References from the Web :
- AUG 2021 Supply chain disruptions and the effects on the global economy – European Central Bank
- JUN 2022 Why global industrial supply chains are decoupling – EY
- JUL 2022 The Great Rewiring: How Global Supply Chains Are Reacting to Today’s Geopolitics – CSIS
