Manufacturing is a key driver of job creation and national economies in general. But a component of manufacturing that is often taken for granted are supply chains – the global logistics and transport networks that get manufactured goods from factory to market.
Manufacturing has been fundamentally disrupted by the Covid-19 pandemic. But as economies limp back into action, manufacturers face a great opportunity to streamline operations, localise and consolidate, or pivot into new industries with fresh possibilities.
The agility and resilience of global supply chains is what can make all of this possible.
The automotive sector provides a good illustration of the issues at stake. As a vastly globalised industry, it manufactures cars and components in numerous developed and emerging economies, with more than 25% of vehicle production coming out of China.