The impact of the Covid19 global pandemic is being felt acutely across various industrial sectors. Hamstrung by low revenue and poor sales, businesses across the world have resorted to staff layoffs, suspension of some of their operations and significant downsizing. Industries are under immense strain and the supply chain is not spared. There is growing evidence that the latest health pandemic has seen businesses operating with minimum human capital and at minimum operating capacity.
As such, the traditional linear logistics model that has been the lifeblood of the supply chain for centuries is now under threat. Logistics service providers and businesses at large suffer from supply chain disruptions and unpredictable market dynamics caused by acute restrictions and lockdowns put in place to contain the epidemic.
For any industry to stand a chance of survival during and post-Covid19, radical measures must be pursued. Unless swift and decisive measures are taken to adapt and to weather down situations of uncertainty, industry will be decimated. The importance of supply chain resilience, risk management and efficient systems is more apparent than ever. What then should be done and how?