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Managing the supply chain has become more important as a result of firms increasing their levels of outsourcing.
The recent epidemic has impacted every link in the value chain, from the source of raw materials to the final consumer. The majority of businesses worldwide are having their organizational, financial, operational, and commercial resilience put to the test. For many companies, COVID-19 has identified risks and resiliency deficiencies. 67 percent of CEOs believe they will raise investment in disruption detection and innovation processes in an effort to get an advantage over competitors when it comes to disruption and innovation.
How should firms attempt to strengthen their supply networks going ahead as COVID-19's effects continue to have an influence on the global supply chain? The key supply chain disruptions listed below, together with the swiftly implemented initiatives by top companies to help increase resilience and agility,
Logistics disruption - The ongoing COVID-19 pandemic-related logistics disruptions continue to have an impact on businesses and consumers as the flow of consumer goods into important markets like North America and Europe, South East Asia, and India is constrained by the ongoing closures of significant international ports and airports, primarily in China, South Korea, and the US.
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