Resilience and efficiency during and after Black Swan events: An analysis of sourcing strategies in the fashion industry in the context of the Covid-19 pandemic

Abstract

The Covid-19 pandemic represented an unprecedented shock that companies had to manage. While companies have dealt with disruptions, there has not been something of this scale since the rise of globalisation. This study analyses the impact the Black Swan event Covid-19 had on the relationship between resilience and efficiency in company sourcing strategies. It examines different sourcing strategies' effectiveness in terms of resilience and efficiency, explores recommended strategies for preparing for such shocks, and assesses whether this advice is followed in the fashion industry post-Covid-19. This will highlight whether companies have learned lessons as to how exposed efficiency based global supply chains are. Or whether they returned to focusing mainly on cutting costs. This was achieved by doing an analysis of the literature on this topic, as well as a case study on Lululemon, a global player in the fashion industry.