COVID-19 has forced manufacturers worldwide to conduct emergency reviews of their supply chains. As entire economies locked down overnight, companies suddenly faced national and international markets where they could no longer reliably source components, manufacture products or distribute their goods to customers. In addition, the crisis hit when global supply chains were already under pressure from new tariffs and restrictions resulting from trade disputes.
This report reflects global perspectives and draws on PwC’s latest research on supply chain management issues. It summarises insights regarding Germany, India, the United States, Greater China, the UK and the Middle East, where the pandemic has accelerated efforts by industrial companies to make inflexible global footprints more agile and responsive to demand, and the analysis of these insights. These are some of the key findings from the virtual panel session, titled ‘The Journey from Globalisation to Glocalisation’, involving leading experts at PwC from across the world at the Global Manufacturing and Industrialisation Summit’s #GMIS2020 Digital Series.
Overall, the following drivers have been identified as those that are accelerating the worldwide shift to “glocalisation” by manufacturers, regardless of where they operate:
"One fact is already clear: COVID-19 has ensured that the case for moving from global to “glocal” operations has gained unstoppable momentum.”
There’s a current trend towards more local supply chains – known as glocalisation or re-industrialisation. This trend was first triggered by digitalisation with automation solutions and picked up speed with the outbreak of COVID-19. Hence, manufacturers around the world had to rethink their supply systems overnight.
Find out in our latest report why it is worthwhile for the Swiss manufacturing industry to make supply chains more local and flexible, and what our recommendations are for doing so.
Global Industrial Manufacturing & Automotive Leader, Principal, PwC United States
Tel: +1 (734) 773 8902
Partner and Leader of Industry 4.0, Procurement and Supply Chain, PwC Middle East
Principal, PwC United States