![]() In the years before the pandemic, supply chains were focused on getting goods quickly and cheaply to customers. Economies in the Asia Pacific, many of which rely heavily on imported goods, are vulnerable to the consequences of supply chain disruption for production and consumption.įocus on cost efficiency before the pandemic ![]() The significant and compounding effects of supply chain bottlenecks and rising freight costs on prices, particularly for producers and manufacturers that import products like fertiliser and construction materials, have serious economic implications. They also affect a wide spectrum of products, from expensive goods, such as cars and electronics, to necessities, such as food, medicines, oil and gas – all of which has an impact on the cost of living. Supply chain disruptions lead to shortages of key goods, price inflation, factory closures, unloaded shipping containers and negative effects on a nation’s economic wellbeing. Vulnerabilities in Supply Chains Globally Promoting flexible and resilient supply chains will be key to weathering the storm. Shortages and rising input costs have meant that prices of food, fuel and construction materials have continued to surge. The disruption to supply chains has become more widespread, growing from an industrial problem to a threat to economic stability. Heightened demand, trade restrictions, factory closures, rising freight rates and reliance on ‘just-in-time’ inventory systems have led to global shortages and inflation. ![]() The COVID-19 pandemic has alerted businesses to the fragility of global supply chains.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |