Research to insights : tracking Canada's evolving supply chain links and their effects.: CS11-631/2024-3E-PDF

"In its most basic terms, “[a] supply chain is a network of individuals and companies who are involved in creating a product and delivering it to the consumer. Links on the chain begin with the producers of the raw materials and end when the van delivers the finished product to the end user” (Hayes, n.d.). In previous decades, declining trade barriers (e.g., tariffs) and communications and transportation costs have made it profitable to extend supply chains across international borders and over greater distances. Before the COVID-19 pandemic, globalization and participation in global supply chains were associated with many economic benefits, including higher productivity and wages, more research and development (R&D), and lower inflation. However, the pandemic and its aftermath have highlighted the risks associated with global supply chains, such as acute shortages of essential goods, disruptions to domestic production of goods and higher inflation"--Context, page [3].

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