Post COVID-19: Supply Chains & More
Over the past forty years digitalisation coupled with the overpowering forces of globalisation have redefined virtually all aspects of our life, from how we communicate to how we consume. Adapting to these changes, worldwide manufacturing production has been reorganised into global value chains (GVCs) to satisfy the growing demand at any time, any place. Thus, supply chains have become inseparably interconnected, whereby raw materials and intermediate goods are shipped around the globe multiple times and then assembled in yet another location to be reexported to the final consumers in both developed and developing markets. As such, about 70% of international trade today involves GVCs, making them a true backbone of our global economy.