Economics (Spotlight Brief 2/21)
Improving supply chain resilience through preparedness
Source: Security Challenges – Oct 20
Increasingly discussed prior to 2020, COVID-19 brought Australia’s vulnerability to trade disruption into stark reality. Until recently, there has been little from a Departmental (any Department) or overall Government side that has sought to understand our supply chain vulnerabilities and potential mitigation. The disruption of supply chains due to the pandemic has highlighted how these failures exacerbate security tensions. The recently released Inquiry into the implications of the COVID-19 pandemic for Australia’s foreign affairs, defence and trade by the Commonwealth Parliament highlighted four key markets with potential disruption: critical minerals, defence industry, medical supplies and fuel. Andrew Dowse and John Blackburn consider these four, along with ICT, to focus on impacts to Defence, revise a risk management approach, and describe how Defence can work with other Departments to prioritise and improve Australia’s overall resilience.
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