The journey from globalisation to ‘glocalisation’

COVID-19 has forced manufacturers worldwide to conduct emergency reviews of their supply chains. As entire economies locked down overnight, companies suddenly faced national and international markets where they could no longer reliably source components, manufacture products or distribute their goods to customers. In addition, the crisis hit when global supply chains were already under pressure from new tariffs and restrictions resulting from trade disputes.

This report reflects global perspectives and draws on PwC’s latest research on supply chain management issues. It summarises insights regarding Germany, India, the United States, Chinese Mainland, the UK and the Middle East, where the pandemic has accelerated efforts by industrial companies to make inflexible global footprints more agile and responsive to demand, and the analysis of these insights. These are some of the key findings from the virtual panel session, titled ‘The Journey from Globalisation to Glocalisation’, involving leading experts at PwC from across the world at the Global Manufacturing and Industrialisation Summit’s #GMIS2020 Digital Series.

Overall, the following drivers have been identified as those that are accelerating the worldwide shift to “glocalisation” by manufacturers, regardless of where they operate: