No one can say yet what the new coronavirus, COVID-19, will cost the world in loss of life and value.
What’s clear is that the virus is spreading more rapidly than previous global health threats, and that it will likely create supply chain challenges for manufacturers of all sizes in virtually all industries.
Since this blog was first published on March 2, 2020, COVID-19 has exploded around the world. Widespread adoption of social distancing-- a term most of us had never heard until a few weeks ago-- has upended the global economy and daily life in ways no one could have imagined in February.
Early media reports called the disease “the Coronavirus.” Technically, coronavirus refers to a type of virus that includes the common cold.
A recent online piece from the Johns Hopkins School of Medicine biocontainment unit explains that COVID-19 got its name as follows. COVI for coronavirus, D for disease, and 19 for the year it was identified. Symptoms include cough, fever, and shortness of breath.
It’s thought that the virus likely emerged from an animal source and now seems to be spreading from person to person. It first appeared in Wuhan, China, in December 2019.
As of this post (updated on 3/19/2020), the disease has been detected in more than 240,000 people in 160 countries. So far, COVID-19 has claimed more than 9,800 lives, including 153 in the U.S. Like the flu, COVID-19 appears to pose the most serious mortality risks to the elderly and those with compromised health, although the CDC reports younger patients are being hospitalized.
See this interactive map from Johns Hopkins shows real-time COVID-19 data on Total Confirmed, Total Deaths, and Total Recovered cases.
In a recent address to the Retail Industry Leaders Association from the Chairman of DHL data and analytics unit Resilience360, David Shillingford outlined three near and long-term impacts going forward.
Shillingford also laid out the following strategies to help companies anticipate risks and disruptions.:
While some analysts expect to see the impact on global supply chains peak by mid-March, we won’t know the long-term effects on U.S. companies and consumers for months. Despite the ongoing uncertainty, the current outbreak can also be an ideal opportunity to evaluate your supply chain management toolkit, including your B2B integration, EDI, EAI, and MFT solutions.
Having delivered support to global and globally-integrated manufacturers since 1994, we’re confident of one thing. Having maximum real time visibility into your supply chain’s potential break points—and the agility to pivot if necessary—may be your best response to whatever yet-to-emerge events may be brewing over the horizon.
Download our white paper to help you assess, plan, and secure buy-in for the funding and resources required to build a B2B integration environment that's capable of giving your organization the visibility into the operations of trading partners who may be located across the globe, the ability to communicate with them, and the agility to pivot if circumstances demand it.
In the meantime, if you do find yourself taxed with processing high volumes of orders, tracking important shipments, and increased manufacturing, don’t hesitate reach out.
We have experienced full and part-time consultants available to help you meet increased demands, troubleshoot, and get back to business.
As you assess impacts and plan your company’s response to the COVID-19 outbreak, you may find these links helpful:
http://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-supply-chain-update
https://www.pharmaceutical-technology.com/comment/covid-19-impact-supply-chains/