Impact of Covid-19 Pandemic on Global Supply Chains & Importance of SCM professionals
COVID-19 had been the buzzword for the past year starting from late 2019. The coronavirus had caused a major impact not just on our health and immunity system but had also caused us psychological and economical harms. 2020 had been a nightmare for the human race. Millions of lives lost to this highly contagious virus and we are still living in the shadows of the pandemic waiting for a vaccine that can allow us to time travel back to the pre-pandemic era. None of us had seen this coming. This had evidently proved to be one of the most testing times of our present generation as we battle the ill-effects of the pandemic in our personal, professional, and social lives. And well, for supply chain professionals worldwide, COVID-19 has been a test of resilience. The IMF estimates that the global economy shrunk by 4.4% in 2020. It described the decline as the worst since the Great Depression of the 1930s. - BBC Almost all industries worldwide had been affected by the pandemic. We saw major e