Breaking down border barriers
We discussed the supply chain vulnerabilities that the coronavirus pandemic has exposed, with some commenting that the urgent push to secure supplies of essential goods and distribute vaccines to their own citizens first has led to some countries becoming more nationalistic. This stance has exposed fragilities in global supply chains. The group said that COVID, which knows no borders, proved how critical it is to mitigate the risks of unchecked nationalism. We discussed the importance of working with business leaders and governments – today and down the road – to ensure they understand how the world at large benefits from interdependent global supply chains.
The group also stressed the importance of reliance mapping. A detailed and multilevel chart of supply routes and parties can uncover chinks, weaknesses, and risks. This arms companies with the information they need to quickly address these challenges.