The major challenges
In three short but turbulent years, we’ve seen worldwide shifts that have negatively impacted global supply chains irreparably:
- The COVID-19 Pandemic: both directly and indirectly causing the loss of millions of lives and livelihoods around the globe. Productivity ground to a halt with lockdowns causing delays, hold ups and shortages in global supply chains.
- The Great Resignation: partly a result of the COVID lockdowns, many people chose not to return to work or indeed, leave their current place of employment. Sectors that were hit hardest by the pandemic like accommodations and healthcare created a huge demand for workers during the recovery.
- Extreme Weather Conditions: right across the globe, detrimental weather conditions have attacked areas where global food supplies are sourced.
- The Russian Invasion of Ukraine: potentially a precursor to the next nuclear conflict. The disruption the invasion caused has exposed just how reliant the world is on the resources supplied by Ukraine.