Prior to the imposition of the stern lockdowns and the spreading of COVID-19, the interruptions in United States and European nations generated a ripple effects on the global supply chain. More focus has been placed on minimizing the prices and well-timed supply of vital products. In the United States, as the condition deteriorates, numerous interruptions in the logistical supply chain has been experienced ( Singh et al., 2020) . Various reasons are accredited to the increasing demands and slow supply chain. There are some practicable resolutions accessible to explore the situation. The resolutions include adopting customized business streams and creating a network of third-party contractors . This assist in the promotion of the American market and amending policies to assist the local personnel reduce the interdependencies of importations on other nations.
Envisaged Changes in US Policies
There are several changes in the constitution that should be implemented regarding the United States administration trade policies with overseas nations. They include changes in the General Agreement on Tariffs and Trade (GATT) 1947 Act, International Organic Trade Policies, Antidumping and Countervailing Tax Regulations, the Generalized System of Preferences (GSP), and numerous trading pacts the United States signed with approximately twenty nations. The objective of the United States strategies is in position to safeguard America while trading with overseas nations. Several policies are valuable to every concerned party, whilst others are hindrance to trade affairs amongst nations
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Proposed Changes
There are several significant approaches that can be integrated in tackling the challenge. Foremost, it involves adopting customized business streams . Pharmaceutical firms need to incorporate a one-size-fits-all outlook to the supply chain. This maintains the high inventory levels regardless of the demand patterns. The next method involves creating a network of third-party contractors . To be ready for a dip in market shares, a considerate make-or buy decision is vital. In this manner, firms may better deal with go-slows in demands through reduction of procurement.
Reference
Singh, S., Kumar, R., Panchal, R., & Tiwari, M. K. (2020). Impact of COVID-19 on logistics systems and disruptions in food supply chain. International Journal of Production Research , 1-16.
