In this report by the Conference Board of Canada, it is discussed that even after COVID-19 case numbers start to decrease, supply chain disruptions could persist as governments work to avoid a reintroduction of the virus and new outbreaks. In saying this, global supply chains may begin to rethink the way they operate at home and abroad, accelerating trends that existed previous to the pandemic.
It is expected that consumers and businesses will rely more on digital solutions, as businesses that can take advantage of online platforms and technologies will be better positioned to handle supply chain disruptions in the future.
Export restrictions in several countries are escalating the global trade protectionism trend that existed pre-COVID -19. However, global cooperation is needed not only to tackle the health crisis, but also to restore trust in the supply chains and maintain the benefits global trade has brought over the last 20 years.
The Conference Board of Canada ends by suggesting the laying off or reduced hours of workers could be viewed as an opportunity to reskill employees so they can be in a better position to tackle the novel business, technological, and employment realities that will become the norm after the pandemic is over.
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