Supply Chains play very important role in driving the economy of the country. COVID-19 pandemic and subsequent lockdowns have disrupted the supply chains of various firms. It has been estimated that the total cost of supply chain disruption due to COVID-19 and geopolitical tensions is around $4 Trillion for US and European firms (Total Cost of Supply Chain Disruption, n.d.). This cost highlights the need to study the impact of COVID-19 on the supply chain function of companies and explore the efforts made by the firms to mitigate the same. The objective of the paper is to examine the disruptions caused by COVID-19 pandemic in value chains of different sectors. It further aims to bridge the gap between the approach taken by the industry practitioners to mitigate the challenges faced by the COVID-19 pandemic and research work carried out by the academicians. The study examines the challenges faced by the industry and suggest opportunity areas where research can support efforts in industry to improve supply chain resilience.