4 Things to Do Now About Coronavirus
Will Green, news editor at Supply Management magazine, writes that the coronavirus has seriously disrupted factory output and the flow of shipping containers. He recommends four steps for dealing with the crisis, including a review of inventory levels, communicating with every supplier, putting a disaster recovery plan in place, and preparing for life after the disaster.
Green heard from Danny Thompson, SVP of market and product strategy at apexanalytix, that preparing for what comes next is an especially important step.
“Risk assessments and continuous monitoring for risks associated with your suppliers are key first steps,” Thompson said. “And determining which alternative vendors can fill in as a replacement will be critical in minimizing disruption when it happens next.”
Read the complete article here.