Global to Trusted Supply Chain - A change in the making
A fractured Supply Chain has left many of us revisit the assumptions on which the Supply Chains were built over the past 2-3 decades. As I also mentioned in my previous article, post WWII and more recently with formation of WTO led to an opportunity which was leveraged by Supply Chains to spread globally. Efficient Supply Chains which were able to deliver the cost arbitrage were preferred over non cost arbitrage Supply Chains. Come 2020, Covid 19 and the natural tendency central to human evolution emerged as a central theme - "One cares first for oneself before one cares for the other". At a nation level this held true. Probably was the first trigger for the Supply Chains to reassess its assumption. But as it happens in humans so it happened with Supply Chains. One tried to do the same of what worked in the past thinking that the current situation is just an outlier and will normalize soon.It took almost couple of years to realize that Supply Chain which are global & cost...