COVID-19 Global Supply Chain Disruptions – A Catalyst for Long-Term Changes?
Ottawa, Ontario, April 27, 2020 (GLOBE NEWSWIRE) — COVID-19 continues to claim lives and create economic turmoil around the world. The pandemic is also disrupting supply chains, deterring business investment, and stymying consumer spending. Today, The Conference Board of Canada releases an Issue Briefing that explores the challenges businesses are facing and the emerging opportunities so they can be in a more solid position to face the new economic, business, and technological realities once the crisis is over. The report, titled COVID-19 Global Supply Chain Disruptions – A Catalyst for Long-Term Changes?, is accessible for free here.“This period of disruptions in global supply chains caused by COVID-19 could be the catalyst prompting businesses to completely rethink the way they operate, interact with suppliers and buyers, and make long-lasting changes,” says Julie Ades, Senior Economist, Global Commerce Centre at The Conference Board of Canada. “How Canada and Canadian businesses respond to the crisis today can affect the sustainability and the well-being of our economy and population over the long term.”Sample of findings:Even after the number of COVID-19 cases starts to fall, containment measures and the associated supply chains disruptions could persist as governments work to avoid a reintroduction of the virus and a new spread. Global supply chain operations will likely be slow to return to pre-outbreak levels.The severity and length of COVID-19 disruptions in global supply chains could prompt businesses to rethink the way they operate at home and abroad, accelerating trends that were already under way prior to the COVID-19 outbreak.Businesses that can take advantage of online platforms and other digital technologies will be in a better position to handle supply chain disruptions, both now and in the future, and to grow production and sales over the longer run.Global cooperation is needed not only to tackle the health crisis, but also to restore trust in global supply chains and maintain the benefits that the growth in global trade has brought over the last two decades.The interruptions and reductions in production may be an opportunity to reskill workers so they are in a better position to tackle the new business, employment, and technological realities that will be more mainstream once the crisis is over.This briefing was funded by The Global Commerce Centre which helps business and government leaders respond effectively to dramatic changes in the global economy through original, innovative, and evidence-based research, webinars, meetings/ conferences, and ongoing contact with its stakeholders.About The Conference Board of CanadaThe Conference Board of Canada is Canada’s foremost independent, non-partisan, and evidenced-based applied research organization. We equip leaders and decision-makers with the economic reports, custom research, data, networks and events they need to solve our country’s most pressing challenges. Our focus areas include Canadian Economics, Energy & Environment, Innovation & Technology, Immigration and more. We stand at the intersection of research and policy, where insights meet impact.Follow The Conference Board of Canada on Twitter @ConfBoardofCdaMedia contact:[email protected] or 1-866-242-0075Corp Comm
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