COVID 19 impact on supply chains categories
1. COVID-19 has disrupted supply chains across various product categories. Explain some of the reasons why a specific product, product category, OR company (choose one) has been impacted and why. What are some of the long-term consequences you expect to see because of this? Based on what you have learned so far, what are your recommendations as to how companies can better prepare their supply chains in the future? Please be specific. (25 points)
2. Define and explain the difference between a push and pull supply chain. Explain why a company would decide to use one strategy over the other, and when they would use blended approach of the two. Are there any benefits for using one over the other? How would you recommend a company to go about choosing which strategy would work with their product? (25 points)
3. We can predict various characteristics of a product, such as, the nature of demand, the expected product lifecycle, and potential consumer behavior. Please give an example of a specific product and explain the demand behavior within each of the below product characteristics. Explain at least two challenges that need to be considered when creating a forecast and how you would overcome any potential uncertainty or errors made. (25 points)
i. Product with a short lifecycle and unpredictable demand
ii. Product with a long lifecycle and stable, predictable demand
4. Compare and contrast some of the risks and benefits of outsourcing to a non-domestic supplier versus a domestic supplier. What are some of the ethical sustainable business practices that must be considered? In your opinion, is there one choice (domestic or non-domestic) that would be considered the more sustainable choice? Why? (25 points)
The COVID-19 pandemic has posed significant challenges for supply chains globally. Multiple national lockdowns continue to slow or even temporarily stop the flow of raw materials and finished goods, disrupting manufacturing as a result. However, the pandemic has not necessarily created any new challenges for supply chains. In some areas, it brought to light previously unseen vulnerabilities, and of course, many organizations have suffered staff shortages and losses due to COVID-19. But overall, it has accelerated and magnified problems that already existed in the supply chain.
The following are some findings from a survey that Ernst & Young LLP (EY US) conducted in late 2020. The respondents were 200 senior-level supply chain executives at organizations across many sectors, including consumer products, retail, life sciences, industrial products, automotive, and high-tech companies in the United States with over US$1b in revenues.
In the aftermath of severe disruption from the COVID-19 pandemic, the survey found that enterprises in the US plan to shake up their supply chain strategies to become more resilient, collaborative, and networked with customers, suppliers, and other stakeholders. To do that, they will increase investment in supply chain technologies like AI and robotic process automation while retraining workers.