IJFANS International Journal of Food and Nutritional Sciences

ISSN PRINT 2319 1775 Online 2320-7876

A STUDY ON THE IMPACT OF SUPPLY SHOCKS FACED DURING THE COVID-19 PANDEMIC

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Ms. Alisha Liz Varghese

Abstract

The Covid-19 pandemic turned our world upside down. It resulted in innumerable consequences across different sectors around the globe. The pandemic and the subsequent lockdowns that were imposed brought regular economic activity to a complete standstill. The economy faced a demand shock as well as a supply shock. While the demand shock was somehow controlled owing to Government and other administrative efforts, the supply shock made an already problematic situation with the global supply chain worse by bringing all its drawbacks into the limelight. This paper seeks to understand the supply shocks and its impact on the economy. It also recommends friend shoring as a means to build a resilient supply chain.

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