In this exam you are asked to define a Finnish Supply Chain and then analyze how the prolonged COVID-19 pandemic has influenced it and/or will influence in the future

Posted: March 9th, 2022

In this exam you are asked to define a Finnish Supply Chain and then analyze how the prolonged COVID-19 pandemic has influenced it and/or will influence in the futureIn this exam you are asked to define a Finnish Supply Chain and then analyze how. Your essay answer should contain
– your own thinking and insights
– reference to the course material (name of author and year)
– all four (4) factors analyzed with examples
The exam is assessed on scale 1-5. Maximum for the exam essay answer is 30 points.
You are allowed to use the course material and additional written material in the exam.
INFLUENCE OF COVID-19 PANDEMIC ON FINNISH SUPPLY CHAIN MANAGEMENT
The prolonged COVID-19 pandemic has already affected the global supply chains. It has been predicted that the future of the supply chain crisis depends on these 4 Ps: Product, Prices, People and Politics:
“Product availability will continue to be difficult, especially in semi-conductors and in items that require them as components.
Prices of supplies will continue to be high, and may even go higher in some raw materials, and companies will likely have to pass some of these onto their consumers. Inflation is here to stay for a bit and is not transitory. Wages may have to be higher.”
People (labor) shortage, due to new (and better) opportunities absorbing existing talent as well as [a] shortage of appropriate STEM skilled ones will continue to be an issue.”
Political decisions related to mandates, inflation, multi- national trade policies and immigration (both high skill and low skill) will have a sizable impact. Companies should be alert to these moving pieces as well as actively lobbying to gain advantage.” *
*Segal, Edward (2021). Supply Chain Experts Weigh In: What Could Happen In 2022 As The Crisis Continues. Forbes (www.forbes.com)
Please analyze the influence of each of these factors on a selected Finnish supply chain. First describe a supply chain that you will use as an example. Then give examples of how these factors have influenced and/or might influence it in the future. Try to think of means to reduce the risk for different stages in the supply chain.