A year on from the first waves of shocks, global supply chains are working in a fast and furious fashion. Working, but volatile — subject to local uncertainties and the potential for a difficult accumulation of disruption.
In the short to medium term, the impact of the COVID-19 pandemic is not going away, which means a changing picture of lockdowns and restrictions in different parts of the globe. Overall, that has meant sharp rises in shipping and air freight costs. And, in general, lead times for supply chains have needed to be extended.