Over recent decades, global supply chains have grown in scale, speed, and complexity. They underpin modern commerce and are vital to the UK’s prosperity and security. Recent events, such as the COVID-19 pandemic and the Russia-Ukraine war, have highlighted that supply chains are complex systems, with many interdependencies,inter-dependencies, and are vulnerable to systemic shocks. shocks.
What shocks and trends might global supply chains face in the future and how might they change in response? response?
The Future of Global Supply Chains in the UK is a cross-government Foresight Project which will help decision-makers across HM Government build resilient supply chains and safeguard growthcritical andimports. prosperity sustainably. We are using the latest analytical and scientific evidence to identify vulnerabilities and develop avenues to long-term resilience. resilience.
The Future of Global Supply Chains in the UK Foresight Project aimswill to: be:
Provide
Providingarobustevidence baseon the critical long-term uncertainties impactingfacing global supply chains.
chains.
By engaging with our network of experts and senior officials across HM Government, we planhave toidentified identifyasetofissues that are both uncertain in their future development and strategically important for the resilience of global supply chains out to 2040. 2040.Theselectedissuesfallintotwocategories:climateandenvironmentalfactors,andgeopoliticaluncertainties.
Develop
Developingcoherentscenarios that consider plausible outcomes for these uncertainties and how they could interact.
interact.
Taking the environmentalandgeopoliticaluncertainties and projecting how they could play out in the future, we planhave todeveloped develop four plausible but deliberately stretching future scenarios,scenarios. outliningEachscenariooutlinesdifferent possibilities for how global trade might look in 2040. 2040.
Use
Stress scenariostest toa explorediverse potentialset vulnerabilitiesof tocase UKstudy supply chains