How COVID-19 is affecting business and supply chain - 0 views

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  #1 pboplus on 02 Jun 20

   

  The analysis by the organizations is showing the shocking parameters of the global supply chain and global trade. Due to complete lockdown in many countries, economists have reported a heavy fall in demand and supply chain.
  The world has encountered the crisis of novel coronavirus which has impacted all the social and economic sectors. Countries are fighting against this virus to cure their infected people and to save their uninfected population. To cope up with this, most countries have launched total lockdown at all over the places including boundaries. Countries are forced to quarantine their population and that has effected consumer demands. When country persons declared total lockdown at very short notice, people started rushing to buy their essentials which directly increases the demand but due to sealed boundaries supply has down to its lowest.
  
  How the economy has turned on its head
  
  The coronavirus outbreak is continuously expanding and became the biggest threat to the world. This sudden lockdown situation has shuttered the manufacturing industries and international trade. Manufacturing industries are standing at zero productivity and workers are forced to leave their working regions. To procure billions of population country heads are ordering to follow quarantine and social distancing.
  
  When country heads announced total lockdown for the next few months, people started storing the products of their essential needs. This resulted in an unwanted panic and gathered crowd which could be the reason for community spread. Recently, the Indian Government has tracked the most sensitive areas of all districts and generated multiple "Hotspots" to seal them completely. GOI has ordered all citizens to isolate themselves living in Hotspots while giving the hint of extending lockdown for the next few months. These incidents of lockdowns are putting stamps on the supply chain. National boundaries are sealed and supply of product goods is suffering.
  
  This pandemic has impacted travel and tourism at its peak. As all the national entrances are closed to stop this virus by spreading at the community level, all the travels and tourism are shut down totally. COVID-19 has endangered the already weakened economy, human health, and public goods. This coronavirus outbreak has affected thousands of people and has a growing effect on the national and international economy. It is hard to tell the exact economic damage due to Coronavirus but economists have predicted that the economy will lose at least 2.4 percent of the value their GDP. Also, this virus will have more down effects than the 2008-2009 global economic crisis.
  Department of Economic and Social Affairs(DESA) has stated that the world economy can be contracted by 0.9 percent in 2020. They also added that this number could be even higher if the government would fail to increase consumer spending.
  
  
  
  Swings in Global Economy: The Path to the Unemployment
  
  The Executive Secretary of the Economic Commission of Latin America and the Caribbean (ECLAC) explained that this pandemic has endangered the global economy from demand and supply both sides. She also stated that this impact on the supply chain is due to this sudden pause on the production process and loss of profitability. By wrapping up her statements, she warned about the global unemployment threat which could be born due to physical distancing and shut down manufacturing. Workers are running towards their native places as they have nothing to do in their working regions. Their livings have become questionable now as they have no source of income.
  
  COVID-19 has fueled up recession at the international level. Here is also a connected problem of crashed stock markets, as Sensex has been down from 40,000 to 27,000. Dow Jones claimed its largest single-day fall of almost 3000 points on March 16, 2020, which was 2300 points 4 days it's four days before.
  
  Improvising the efficiency of Health care system
  
  Every country is fighting against this virus to share the stage with a few of them who have controlled the number of infected people. Governments of all countries are helping their medical researchers to develop the antidote for this virus and providing medical equipment to serve the patients. As the infected patients are increasing day by day hospitals are getting out of ventilators, hospital beds, and isolation wards. Doctors are forced to say no to the patients and coronavirus testing is limited to certain hospitals. Patients cannot be treated as soon as possible due to the lack of ventilators.
  
  In India, there are 40,000 ventilators per 1.3 billion people and if this virus keeps spreading as it is at present, then we would be needing a hundred times more ventilators to treat all the patients. GOI has asked medical authorities to check all the possibilities of present ventilators and to manufacture 10,000 ventilators per month. The government has taken this step to add capacity to the national health care system. By adding up accurate medical facilities, the government is gearing up to lower the rate of COVID-19.
  
  Grave effects on the transmission channel
  
  Alicia Bárcena said coronavirus pandemic will have its grave effects on the regions which deal with the transmission of products and goods. Countries like Mexico and Brazil would be the most affected as they import their manufacturing parts and intermediate goods from China. China is the most important destination of exporting as it's the top trading partner with Chile, Peru, and Brazil.
  
  Indian exporters are also in a great disorder as all the trading business is stuck due to the pandemic. Along with China, US, UAE, Singapore, and Italy are the closest friends for the merchandise business of the country. Due to this lockdown scenario, exporters are forced to store their raw material and goods which is resulting in overstuffed warehouses and stopped the machinery. As the national borders are completely sealed, the transmission of products and goods are paralyzed, exporters and distributors need immediate credit flow to keep their workforce and machinery in the running situation. As they have to survive this pandemic and have to re-establish their channel after this outbreak.
  
  Collectively, these were the challenges we're facing during this pandemic but this article is intended to clear the perspective of organizational leaders about how to keep their company surviving through this outbreak.
  
  What companies need to do
  
  Company leaders and manufacturing mafias are in a state of turmoil where they are being obsessed to make their company survived throughout this coronavirus outbreak, as they have to stand again in the league. Here are a few steps that organization leaders should follow to survive in this pandemic.
  
  Address your employees:
  The best way to stand against the challenges represented by COVID-19 is to clarify all the economical, technical, and client-related situations to your workforce and your clients as well. Addressing them clearing things in front of them will give the idea to fight against these inevitable situations.
  
  Motivation! Inspiration!
  Being the captain, it's the time to play wisely. You have to show your employees that whatever the situation is right now, you want to make them survive along with your company. Motivate them to keep walking with the organization for the future betterment as you are seeing the company's future with them. This will encourage them to work together as a family, a family who is going through a tough situation and standing together for survival.
  
  Reward: The Best Award
  During this hardest situation of all time, when the economy is low at its peak and the organization's financial conditions are drowning down, employees are the real money. Organizational leaders need to think twice about reducing the workforce this time because manpower of your company is the bricks who can build the bridge across the river to survive this pandemic. Manufacturing mafias should have understood that they cannot stand again without their workforce after this outbreak. They need to hold the hand of their employees and workers by encouraging them with rewards. Owners need to assure their employees that they would get rewarded after the situations will be held in control if they keep holding the hand of the organizations. This will give the chance to the employees to prove their loyalty towards the organization and also will be proven very helpful for owners in surviving their companies.

   

  <div class="cArrow"> </div><div class="cContentInner">The analysis by the organizations is showing the shocking parameters of the global supply chain and global trade. Due to complete lockdown in many countries, economists have reported a heavy fall in demand and supply chain. <br /> The world has encountered the crisis of novel coronavirus which has impacted all the social and economic sectors. Countries are fighting against this virus to cure their infected people and to save their uninfected population. To cope up with this, most countries have launched total lockdown at all over the places including boundaries. Countries are forced to quarantine their population and that has effected consumer demands. When country persons declared total lockdown at very short notice, people started rushing to buy their essentials which directly increases the demand but due to sealed boundaries supply has down to its lowest. <br /> <br /> How the economy has turned on its head <br /> <br /> The coronavirus outbreak is continuously expanding and became the biggest threat to the world. This sudden lockdown situation has shuttered the manufacturing industries and international trade. Manufacturing industries are standing at zero productivity and workers are forced to leave their working regions. To procure billions of population country heads are ordering to follow quarantine and social distancing. <br /> <br /> When country heads announced total lockdown for the next few months, people started storing the products of their essential needs. This resulted in an unwanted panic and gathered crowd which could be the reason for community spread. Recently, the Indian Government has tracked the most sensitive areas of all districts and generated multiple "Hotspots" to seal them completely. GOI has ordered all citizens to isolate themselves living in Hotspots while giving the hint of extending lockdown for the next few months. These incidents of lockdowns are putting stamps on the supply chain. National boundaries are sealed and supply of product goods is suffering. <br /> <br /> This pandemic has impacted travel and tourism at its peak. As all the national entrances are closed to stop this virus by spreading at the community level, all the travels and tourism are shut down totally. COVID-19 has endangered the already weakened economy, human health, and public goods. This coronavirus outbreak has affected thousands of people and has a growing effect on the national and international economy. It is hard to tell the exact economic damage due to Coronavirus but economists have predicted that the economy will lose at least 2.4 percent of the value their GDP. Also, this virus will have more down effects than the 2008-2009 global economic crisis. <br /> Department of Economic and Social Affairs(DESA) has stated that the world economy can be contracted by 0.9 percent in 2020. They also added that this number could be even higher if the government would fail to increase consumer spending. <br /> <br /> <br /> <br /> Swings in Global Economy: The Path to the Unemployment <br /> <br /> The Executive Secretary of the Economic Commission of Latin America and the Caribbean (ECLAC) explained that this pandemic has endangered the global economy from demand and supply both sides. She also stated that this impact on the supply chain is due to this sudden pause on the production process and loss of profitability. By wrapping up her statements, she warned about the global unemployment threat which could be born due to physical distancing and shut down manufacturing. Workers are running towards their native places as they have nothing to do in their working regions. Their livings have become questionable now as they have no source of income. <br /> <br /> COVID-19 has fueled up recession at the international level. Here is also a connected problem of crashed stock markets, as Sensex has been down from 40,000 to 27,000. Dow Jones claimed its largest single-day fall of almost 3000 points on March 16, 2020, which was 2300 points 4 days it's four days before. <br /> <br /> Improvising the efficiency of Health care system <br /> <br /> Every country is fighting against this virus to share the stage with a few of them who have controlled the number of infected people. Governments of all countries are helping their medical researchers to develop the antidote for this virus and providing medical equipment to serve the patients. As the infected patients are increasing day by day hospitals are getting out of ventilators, hospital beds, and isolation wards. Doctors are forced to say no to the patients and coronavirus testing is limited to certain hospitals. Patients cannot be treated as soon as possible due to the lack of ventilators. <br /> <br /> In India, there are 40,000 ventilators per 1.3 billion people and if this virus keeps spreading as it is at present, then we would be needing a hundred times more ventilators to treat all the patients. GOI has asked medical authorities to check all the possibilities of present ventilators and to manufacture 10,000 ventilators per month. The government has taken this step to add capacity to the national health care system. By adding up accurate medical facilities, the government is gearing up to lower the rate of COVID-19. <br /> <br /> Grave effects on the transmission channel <br /> <br /> Alicia Bárcena said coronavirus pandemic will have its grave effects on the regions which deal with the transmission of products and goods. Countries like Mexico and Brazil would be the most affected as they import their manufacturing parts and intermediate goods from China. China is the most important destination of exporting as it's the top trading partner with Chile, Peru, and Brazil. <br /> <br /> Indian exporters are also in a great disorder as all the trading business is stuck due to the pandemic. Along with China, US, UAE, Singapore, and Italy are the closest friends for the merchandise business of the country. Due to this lockdown scenario, exporters are forced to store their raw material and goods which is resulting in overstuffed warehouses and stopped the machinery. As the national borders are completely sealed, the transmission of products and goods are paralyzed, exporters and distributors need immediate credit flow to keep their workforce and machinery in the running situation. As they have to survive this pandemic and have to re-establish their channel after this outbreak. <br /> <br /> Collectively, these were the challenges we're facing during this pandemic but this article is intended to clear the perspective of organizational leaders about how to keep their company surviving through this outbreak. <br /> <br /> What companies need to do <br /> <br /> Company leaders and manufacturing mafias are in a state of turmoil where they are being obsessed to make their company survived throughout this coronavirus outbreak, as they have to stand again in the league. Here are a few steps that organization leaders should follow to survive in this pandemic. <br /> <br /> Address your employees: <br /> The best way to stand against the challenges represented by COVID-19 is to clarify all the economical, technical, and client-related situations to your workforce and your clients as well. Addressing them clearing things in front of them will give the idea to fight against these inevitable situations. <br /> <br /> Motivation! Inspiration! <br /> Being the captain, it's the time to play wisely. You have to show your employees that whatever the situation is right now, you want to make them survive along with your company. Motivate them to keep walking with the organization for the future betterment as you are seeing the company's future with them. This will encourage them to work together as a family, a family who is going through a tough situation and standing together for survival. <br /> <br /> Reward: The Best Award <br /> During this hardest situation of all time, when the economy is low at its peak and the organization's financial conditions are drowning down, employees are the real money. Organizational leaders need to think twice about reducing the workforce this time because manpower of your company is the bricks who can build the bridge across the river to survive this pandemic. Manufacturing mafias should have understood that they cannot stand again without their workforce after this outbreak. They need to hold the hand of their employees and workers by encouraging them with rewards. Owners need to assure their employees that they would get rewarded after the situations will be held in control if they keep holding the hand of the organizations. This will give the chance to the employees to prove their loyalty towards the organization and also will be proven very helpful for owners in surviving their companies.</div>

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