COVID-19. You can’t turn on the TV, read a newspaper, or get on social media without someone talking about the pandemic. Whether it’s bad news, very bad news, or stories about toilet paper hoarding, this newest strain of coronavirus is affecting our very way of life.
And, unfortunately, supply chains are not immune to the virus. Hundreds of articles have come out (and here’s one more) discussing the supply chain disruption, with companies announcing manufacturing and shipping delays or outright closing of plants. To add to that, businesses are seeing less global demand due to fear and distancing, which can bring about long-term damage.
The fear is real. It is strong. And there doesn’t seem to be an end in sight.
But, not all is lost. While people talk about how flimsy our current supply chain is to break down so easily, there are some things we can learn about the global pandemic.
Here are 3 lessons we can learn about how to manage supply chains in a post-coronavirus world: