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How COVID-19 Is Accelerating Pre-Existing Trends in Supply Chains

The COVID-19 pandemic has wreaked havoc on global supply chains in 2020, beginning with lockdowns in key manufacturing regions in China in February. They then spread to buying regions across the globe, triggering dramatic and erratic drops in demand and supply.

 

As global trade enters the second half of 2020, it’s becoming evident that the pandemic hasn’t redrawn the maps of global sourcing as predicted, but rather has accelerated and deepened a number of pre-existing trends. Among them are a supposed decreased reliance on China, diversification of supplier portfolios, and more advanced use of digital and remote tools to manage quality and compliance.

 

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