The pandemic has exposed the fragility of the global supply system. As links in the supply chain shut down to contain the coronavirus, shortages are being felt up and down the line. The easing of pandemic restrictions in 2021 has yet to bring relief, and the forecast for 2022 is for more of the same. Can a different contracting approach by supply-chain participants help lessen the current rigidity and alleviate bottlenecks? Perhaps it’s time to refocus on the relationship rather than the deal.
When I started practicing years ago, one of the elders in my firm told me that the ...
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