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The Significant Impact of the COVID-19 Pandemic on Supply Chains
Abstract
As the COVID-19 pandemic has spread across the world, the existence of disruptions in demand and supply have become more severe, conducted by containment measures taken by countries and affecting different sectors around the world. Although businesses and workplaces are restarting activities in some countries, with containment measures gradually being lifted, overall consumer demand is expected to remain low, also determined by the loss of jobs and income. Therefore, the scale of the impact on supply chains exceeded anything most companies had anticipated. This study aims to understand how companies were affected and identify some lessons learned about their vulnerabilities and the possible ways to address them in the long term. On the other hand, it is intended to reveal some of the impacts of COVID-19 and make some practical suggestions that can help in political and operational decisions to strengthen and build additional resilience in supply chains in the future.
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