LONDON--(BUSINESS WIRE)--Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest article on how the covid-19 is affecting the logistics industry in North America.
“The coronavirus outbreak is causing widespread concern and economic hardship for businesses worldwide and the logistics industry in North America is hardly an exception,” says a market research analyst at Infiniti Research.
The unpredictable nature of the coronavirus outbreak is impacting the logistics and supply chain operations in North America. This is completely reshaping the global airfreight operations, as logistics companies are struggling to keep medical supply and other basic goods moving. Also, the shutting down of global supply chains could lead to scarcity of day-to-day essentials in the North American region. Besides, the sudden drop in imports from countries such as China and Europe are making it difficult for North American logistics companies to meet the rising demand for medical supplies and equipment. As such, logistics companies will need to understand the demand impact specific to their business, create short-term demand-supply synchronization strategy, prepare for potential channel shifts, and conduct global scenario planning.
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Strategies for Managing Supply Chain Disruptions
Devise crisis management plans
With the coronavirus outbreak, business leaders are facing difficulties in dealing with interruptions in supply chain activities. To tackle this challenge, logistics companies can focus on devising crisis management plans and evaluating alternative outgoing logistics options. Besides, analyzing factors impacting the dynamics of international supply chains leading to increased uncertainty in logistics operations at the tactical, operational, and strategic levels can help companies ensure supply continuity.
Categorize supply chain disruption strategies
As revenues take a huge dip during this period, qualitative and quantitative analysis of supply chain risk is critical for logistics companies to maintain their speed to market. Besides, logistics companies must focus on establishing short-term demand-supply synchronization strategy and evaluating alternative inbound logistics options.
Adopt a new supply chain model
Leveraging advanced technologies such as IoT, AI, and 5G can help logistics companies to improve visibility across the end-to-end supply chain and support companies’ ability to resist sudden shocks such as the coronavirus outbreak.
Contact us to know how we can help you to act swiftly to address supply chain challenges and devise a crisis management plan to ensure business continuity.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us