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Responding to Coronavirus: Selected Ideas and Learnings for Supply Chain Management Leaders
Every company with a supply chain in China is impacted significantly by the coronavirus (COVID-19) crisis, some to the point of paralysis. As of 20 February 2020, definitive progress on containment and remission is still not in sight. Business disruptions are expected to continue and with broad ripple effects. Impacts will amplify significantly if and when significant numbers of small- and medium-sized businesses begin to go bust for lack of cash flow.
While many firms have likely built some cushion of parts in inventory and in transit ahead of the Chinese Lunar New Year holiday, as is typical, backup supplies will start to run out if factories cannot get back to work soon, trucking and delivery services do not return to some level of normality, or flights to and from China remain limited.
In this time of complex and cascading challenges for supply chain professionals, we have gathered some insights and learnings from our internal experts and member network which we hope will be helpful as you formulate, implement, and manage your own crisis response.
The DOs and DON’Ts in the catalog below essentially resolve down to three executive actions:
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