Interesting article by Dr. Deborah Elms, Asian Trade Centre, Singapore who we must congratulate for being an incredibly busy advocate for trade in the region during lockdown!
I have been asked to speak at multiple online events this week alone on the topic of “supply chain resilience.” It’s not just supply chain professionals and business leaders worried about how to ensure that chains can bend, but not break, and handle the current and future crises with ease. Increasingly, government officials are also raising the topic.
Government officials are understandably concerned that global and regional supply chains are under threat. In some circumstances, particularly in sectors critical for fighting and managing the COVID 19 pandemic, chains have not always delivered as intended.
Companies have had to scramble to compensate for parts, components and raw materials getting stuck in one or another market under lockdown orders. Getting staff into manufacturing facilities has created another set of headaches for firms. Finally, the disruption in travel across the board has had significant consequences for the delivery of inventory and staff.
The net result of this unprecedented supply and demand shock to the economic system has led to many calls to build or rebuild supply chains with more “resilience.”
Resilience is a word, however, a bit like motherhood and apple pie. After all, who doesn’t want a mother or pie? Who wouldn’t want resilience in the face of disruption?