Supply chain sovereignty: reducing global dependence
The COVID-19 pandemic, geopolitical tensions and rising trade barriers have exposed the fragility of global supply chains. For Canadian manufacturing, these challenges highlight the urgent need to rethink traditional supply chain strategies. Enter supply chain sovereignty, which focuses on reducing reliance on global markets to ensure greater stability, security and resilience. This shift is not just a reaction to current events, but a forward-looking approach that could redefine the future of Canadian manufacturing. Also Read: Exploring Global Markets: Countries and Industries Offering Opportunities for Overseas Business What is supply chain sovereignty? supply chain Sovereignty refers to the ability of a country or organization to independently control critical supply chain operations. This includes minimizing dependence on foreign suppliers by prioritizing domestic production, cultivating localized partnerships, and investing in national infrastructure. For Canadian manufacturing, taking this approach means rethinking how raw materials, components and finished products are sourced, processed and distributed. Supply chain sovereignty prevents global disruption and provides a path to…
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