The global economy has been upended by the COVID-19 pandemic. Quarantines, shutdowns, and trade disruption have all significantly disrupted supply chains across the world. Supply chains will not simply “return to normal”. This is a black swan event that will have reverberations across the industry and impact supply, demand, liquidity and work for years to come.
The COVID-19 crisis has been a stress test for UK supply chains and their global networks, exposing inherent weaknesses and highlighting the fact that supply chain operations are in need of continuous improvement to sustain efficiencies and remain competitive.
Often it takes a compelling disruption to instigate change and what were once generational events are becoming all the more regular, be they induced by health, climate, or geo-political circumstances. The pandemic has accelerated the major change required to leave the UK’s supply chains in a much stronger, more resilient position than they were pre-COVID.
With the UK’s post-Brexit transition period drawing to a close in December, a lot of uncertainty remains about the shape of the UK’s trading future. Regardless of the outcome, organisations that have adopted a cloud-based supply-chain platform – either before or in response to the pandemic – to boost their agility, will be ready for a variety of contingencies.
With end-to-end supply chain visibility and flexible, scalable ways to trade, collaborate and grow digital partner and employee ecosystems, UK supply chains will be better prepared for the turbulent times that may well lie ahead.