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Global supply chains are the sophisticated networks of manufacturing, logistics, transportation, and communication firms that move products and material through worldwide production and distribution channels. Globalization has been a prevailing trend in nearly every industry for the past several decades as manufacturers and other businesses attempt to take advantage of the abundant raw materials and low-cost manufacturing available in developing countries around the world. When asked which supply chain vulnerabilities were brought to light by the pandemic, 46% of the executives cited dependency on unreliable partners or governments.

A survey of 450 executives across industries found that 62% of firms experienced supply chain disruptions that ranged between 20% and 80% of total volume.

Cybersecurity and Infrastructure Security Agency (CISA) reports on the disruptions to the global supply chain as a result of COVID-19: One risk few businesses calculated was the impact of a pandemic on global supply chains.Ī November 2020 study by the U.S. The goal of global supply chain management is to ensure that the international networks of manufacturers, vendors, warehouses, transportation companies, distributors, and retailers operate smoothly.Īn important element of that goal for business managers is to mitigate the risks entailed in relying on suppliers and other partners whose operations are a world away and who are subject to rules and regulations of different governments. The global supply chain helps make manufacturers and industries more efficient and profitable by reducing costs and encouraging businesses to expand into international markets.

The Skills Managers Will Need to Thrive in Tomorrow’s Economy.Global Supply Chain Management in a Post-Pandemic Economy.Global Supply Chain Issues Caused by the Pandemic.What Is Global Supply Chain Management?.