Diversification of supply chains

Many countries have become aware of how dependent they are on supply relationships, whether importing or exporting. This is especially important due to the current Corona pandemic, but has also been an extensively discussed topic for some time.The government measures against the global pandemic strongly contribute to global supply bottlenecks. Thus, the supply chain becomes more of a "supply puzzle" (Schlautmann, 2020).
Making early decisions in key areas and managing them on a daily basis often helps to guide and ensure the long-term strategic growth of companies. Diversifying supply chains is a key strategy to safeguard against unexpected disruptions in the supply and procurement process. A sufficiently diversified company has the flexibility not only to continue business activities in the event of external factors leading to trade constraints. It also focuses on minimising dependencies on individual and critical supply chain partners by building a broad network of diverse business partners. 

Accordingly, the diversification of partners and customers is just as important as the geographical diversity of supply chains.

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