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The CBRE AIB Ireland Logistics and Supply Chain Confidence Index for 2020 reports an underlying, overall positive outlook, our survey confirmed a somewhat uncertain outlook, as confidence levels remain fragile.
Despite the unprecedented impact on global supply chains of the COVID-19 / Coronavirus pandemic in 2020, it remains important to note that this year’s survey reports an underlying, marginal increase in confidence amongst supply chain professionals across the island of Ireland
The fragility of the sector’s confidence no doubt increased in the latter half of Q1, 2020 as the impact of the COVID-19 / Coronavirus pandemic became apparent. Whilst in some sectors, demand and business surged, others faced a battle for survival.
Aside from the immediate challenges posed by the COVID-19 / Coronavirus pandemic, a shortage of skilled employees, increasing cost pressures and Brexit are among the biggest challenges faced by the logistics and supply chain sector – and these factors are contributing to the low levels of confidence we see measured in our report.
However, Ireland is not unique in facing these challenges, alongside expectations of more limited global economic growth and prospects for international trade.
Aside from the immense challenges posed by the COVID-19 / Coronavirus pandemic, supply chains continue to face skills and talent shortages and pressure from rising costs, with international economic growth prospects impacted by Brexit and wider trade tensions. However, the logistics and supply chain sector is incredibly resilient, and optimism for future success remains, as companies embrace technologies to help exploit growth opportunities.
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