Rethinking Supply Chain Strategy to Face Global Challenges Imposed by COVID-19

Abstract

COVID-19 has been perceived as a new menace to undertake business relations in the marketplace. Consequently, supply chains have been required to reevaluate how to manage their key functions to cope with harsh business environment under this pandemic outbreak scenario. Therefore, supply chain strategies have taken an essential role in achieving resilience, flexibility, responsiveness and sustainable operations. As a result, the introduction of new digital technologies has contributed to enhance organizational performance and to face COVID-19 challenges in global markets. The purpose of this chapter is to provide insights of current literature on supply chain operations by identifying strategic practices within this pandemic health outbreak crisis. The chapter introduces an overview of the supply chain key functional areas. Then, the discussion concentrates on describing a series of observations and empirical research developed by academics and experts on the topic. After that, supply chain strategic practices are analyzed, followed by a description of digital technology as a critical tool to achieve operational excellence and to compete in tougher market conditions. Finally, a conceptual model is proposed to ensure effective supply chain functioning and value creation across the entire firm’s operations. Conclusion are drawn to summarize the contribution of this chapter and to highlight the importance of rethinking new practices for achieving higher performance results. Future research suggestions are presented to advance the discussion and research in embracing new supply chain models under market uncertainty in terms of demand, supply and operations.