The report discusses the challenges faced by Chief Procurement Officers (CPOs) and supply chain leaders in a world economy that is expected to shrink by at least 5.2% this year, making it the worst global recession since World War II. The pandemic and the measures taken to combat it have made the marketplace exponentially more volatile, uncertain, complex and ambiguous than it was only this time last year. The report suggests that the strategies, policies and decisions that CPOs and supply chain leaders formulate now could help them build a clear competitive advantage in the market or concede that advantage to their rivals. The damage has been unevenly distributed between regions, countries and types of economy, but every nation has been impacted. The report concludes that the pandemic has made the marketplace exponentially more volatile, uncertain, complex and ambiguous than it was only this time last year, and that is not likely to change any time soon.