Supply Chain Interruptions

  The COVID-19 pandemic has alerted businesses to the fragility of global supply chains. Heightened demand, trade restrictions, factory closures, rising freight rates and reliance on ‘just-in-time’ inventory systems have led to global shortages and inflation. The disruption to supply chains has become more widespread, growing from an industrial problem to a threat to economic stability. Shortages and rising input costs have meant that prices of food, fuel and construction materials have continued to surge. Promoting flexible and resilient supply chains will be key to weathering the storm.The significant and compounding effects of supply chain bottlenecks and rising freight costs on prices, particularly for producers and manufacturers that import products like fertilizer and construction materials, have serious economic implications.