Page 5 - Coronavirus Pandemic by Elias Amash

Key considerations:

1. Supply chain mapping — In case you still haven’t done this, now is not the time to start.

This is something you need to do in times of non-disruption.
2. Keep up communication with all stakeholders —The worst thing you can do is keep your

customers and suppliers guessing. You need to tell them your plans as information

unfolds. For example, “If X conditions are met, these are the plans we will follow.”

3. Know your inventory and recognize that if you don’t have inventory on hand, you’re out
of business.

4. Plan your ‘what-if’ scenarios — What if closures go beyond March? What happens if it is

April or even May?

5. Keep your employees top of mind and be aware that many do not have the necessary
savings to be out of work or at home caring for a family member. Generosity in times of

need will NEVER be forgotten.

In conclusion, the impacts of the supply chain disruption are being felt today but it will get

much worse before it gets better. As a result, many companies are closing or slowing down

their operations which only compounds the problem. Coronavirus is causing major troubles for
the supply chain around the world. We have to agree that the duration of the disruption will

dictate what comes next. This is a slow, long-term strategic process, but obviously, industries

around the globe will need to more seriously consider their supply chain practices and policies

in the future. Lastly, be aggressive in your planning and purchasing to make the most of the
situation. Those companies that invest in inventory today will be more prepared than those

that react too slowly.