In recent years, global supply networks have become highly complicated. These many activity sequences power industry and global trade on a massive scale. Demand synchronization was necessary at several phases of the operations, from foreign component procurement through delivering the finished product to the customer’s door.
What happens if a link in the supply chain becomes clogged or breaks? We’ve seen how susceptible the system can be, as well as some of the catastrophic consequences of its disruption as a result of the pandemic’s serious problems. The following is a quick rundown of some of the primary causes of the supply chain crisis, as well as how certain firms are working to recover.
There are no obvious solutions to this issue. But, if production delays, high costs, and market uncertainty persist until 2022, new technologies may emerge, pushing more businesses to change in order to survive.
Check out the attached infographic to learn more about the effects of supply chain shortages.