Global Supply Chain resiliency in the wake of the COVID-19 pandemic

05.08.2020 Lisa McAuley
Global Supply Chain resiliency in the wake of the COVID-19 pandemic

With the world economy facing multiple disruptions, including slow economic growth, natural disasters, and more recently the COVID-19 pandemic, global value chains (GVCs), and supply chains more broadly, are transforming rapidly. While past decades fostered an expansion and enlargement of global supply chains more recently some have also shortened and become more localised, a trend which is likely to increase in the coming years as MNCs and SMEs reconfigure their operations due to the pandemic and the resulting escalated adoption of digital technologies.

The Global Trade Professionals Alliance (GTPA), supported by the Australian Government and on behalf of the Asia-Pacific Economic Cooperation (APEC) forum, has launched theAPEC Global Supply Chains Resiliency Survey.

The COVID-19 pandemic and its ongoing impact has brought into focus the importance of resilience in global value chains and supply chains, and the urgency for increasing this resilience to allow businesses to better cope with crises. This survey will help to build resilience through a better understanding of the current needs of business, ensuring that government pandemic support initiatives are appropriate and sufficient to meet these needs. The survey will further help to ensure alignment of future government policies and programs with business needs.