The pandemic continues to create a ripple effect across every industry. In addition to the staggering revenue declines, loan defaults and job losses, COVID-19 has uniquely impacted supply chain management. In the beginning, it induced simultaneous and sudden drops in both supply and demand, resulting in deflation and creating a negative spiral, presenting new challenges forsupply chain leaders. By mid-March, more than 75% of companies reported significant disruptions to their supply chains. In response, many have had to revisit supply chain fundamentals related to inventory, procurement, manufacturing and distribution and customers.
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