Ever wondered how your favorite gadgets, clothes, or even coffee make their way to you? At the China International Supply Chain Expo (CISCE) this week, a major report was released that could change how we understand global supply chains.
The Global Supply Chain Promotion Report 2024, the first of its kind, offers an in-depth look at how products travel from creation to our hands. Covering 11 key industries—from humanoid robots and smart cars to wind power and even coffee—the report maps out where things are made, how they move, and who’s in charge at each step.
The report highlights some exciting trends shaking up global supply chains. New technologies are making an impact, and there’s a big shift towards regionalization, meaning products are being made closer to where they’re sold. There’s also a focus on diversification, digitalization, and sustainability, which could mean better products and a healthier planet.
In today’s world, resilience is key. The report shows how countries and businesses are stepping up to make sure that products keep flowing, even when unexpected events happen. By boosting local production and keeping a closer eye on risks, they’re working to prevent disruptions.
To help everyone understand these complex changes, two new indices were introduced: the Global Supply Chain Connectivity Index (GSCCI) and the Global Supply Chain Promotion Index (GSCPI). Think of these as tools that measure how connected the world’s supply chains are, and how much effort is being put into promoting them. This information can help leaders make smarter decisions about trade and economics.
Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT), said this report answers important questions about global supply chain risks and connectivity—topics that matter to governments and businesses worldwide.
Over 300 industry experts, academics, and media representatives gathered at the release event to discuss the future of global supply chains. They talked about the need for international cooperation to build a supply chain system that’s safe, stable, and beneficial for everyone.
Reference(s):
cgtn.com
