The Impact of COVID-19 on supply chain analytics: A global review

Abstract

The COVID-19 pandemic has triggered unprecedented disruptions across global supply chains, challenging businesses to reassess and optimize their supply chain analytics strategies. This paper delves into the far-reaching impact of the pandemic on supply chain analytics, providing a comprehensive global review of the challenges, innovations, and transformations that have emerged. The pandemic-induced disruptions have exposed vulnerabilities in traditional supply chain models, prompting organizations to reevaluate their analytics frameworks. The sudden fluctuations in demand, supply chain interruptions, and logistics bottlenecks necessitated a rapid response, pushing companies to leverage advanced analytics to enhance visibility and agility in their supply chain operations. This global review reveals that organizations have increasingly turned to predictive analytics, machine learning, and artificial intelligence to navigate the uncertainties introduced by the pandemic. These technologies have enabled real-time data analysis, forecasting, and scenario planning, empowering businesses to make informed decisions amidst the dynamic and unpredictable nature of the crisis. Moreover, the study highlights the importance of data-driven insights in risk management within the supply chain. Organizations have recognized the need for robust analytics tools to identify, assess, and mitigate risks associated with suppliers, transportation, and geopolitical factors. The integration of analytics into risk management strategies has become imperative for building resilient and adaptable supply chains. The study further explores the emergence of digital twins and blockchain technologies as transformative elements in supply chain analytics. Digital twins provide a virtual representation of the entire supply chain, facilitating simulation and optimization, while blockchain enhances transparency and traceability, crucial for ensuring the integrity of the supply chain. This global review underscores the profound impact of COVID-19 on supply chain analytics, emphasizing the paradigm shift towards data-driven decision-making, advanced technologies, and resilience-building strategies. As businesses continue to navigate the ongoing challenges, the integration of innovative analytics solutions remains pivotal in not only mitigating current disruptions but also in building agile and future-proof supply chains.