Trying to predict demand or supply capabilities in a time of economic crisis “is like trying to catch a falling, disease-infected knife — in the dark.”
The coronavirus pandemic is just the latest disruption to hit global supply chains, and endanger the stability of key suppliers. But many retailers don’t seem to have learned the lesson of past such events.
From cubicles to factory floors, cafes to clothing boutiques, businesses around the world are dreaming up creative ways to reopen, attempting to start revenue flowing again while minimizing the risk to customers and employees.
COVID-19 is about to put the global trading system through its most dramatic stress-test since World War II, with supply lines for essential food and medical goods entering a critical phase as the pandemic peaks in the U.S. and Europe.
The coronavirus pandemic is just the latest of an endless series of crises to hit companies around the world. And, like so many previous ones, it has exposed a serious lack of preparation by business leaders and supply chains.
India plans to ramp up production of pharmaceutical ingredients and become an alternative supplier for global drugmakers hit by factory shutdowns in China due to the coronavirus outbreak.
The coronavirus pandemic has brought chaos to supplier-buyer relations the world round, resulting in widescale invoking of the contract-breaking clause known as force majeure.
