Covid supply chain challenges
It goes without saying, what the coronavirus and the pandemic has done to the entire world, without sparing any sector of the world economy. The potent of the outbreak and it’s ill-effects only seem to be deepening by each passing day. There is no denial in the fact that the government, business, individuals themselves are putting forward cumulative efforts with reference to the demand of every situation that is coming in our way, to minimize the damage in every aspect possible. However, the real question still remains unanswered, Is this going to be enough?
It is disturbing how the corona outbreak has exposed so many arenas where the businesses are lacking and until now, no one would have even thought of these gaps as a demerit.
One such division which requires immediate attention and action is the supply chain which has been worst hit.
There must be a comprehensible understanding on how the global manufacturers are going to manage their exports, logistics, and transportation so as the businesses will be ready with their strategies accordingly. The organizations will now be working in the reaction mode.
Recent reports have proved clarified that 94% of fortune 1000 companies have their tier 2 suppliers in most affected pandemic regions of China. This has negatively affected every supply chain all around the world. In the meantime, top on the priority list is to accelerate agility into supply chain to be able to superintend the evolving solutions. There is so much that has gone into Research and development (R&D) that now the world might, hopefully see a range of varieties like never before. The quality, durability, genes, the entire life of the product could be changed. This is directly linked to the supply chain since the mode of evaluating, sanctioning, surveilling will change accordingly.
Here is a list of top 10 out of innumerable concerns that require immediate thinking, reasoning and a plan of action.
- Disruption in the world being reliant on China for production and supply.
- Increased risk of trade wars.
- Stability in the future is uncertain.
- Change in trends of nationalism.
- Issues in human rights consideration.
- National policies with respect to trading will change.
- Changes in taxation and employment.
- Relocation costs.
- Business will have to restructure their supply chains.
- Managing risk and compliance with tougher environmental links.
Now, let us understand what the industries are doing, with respect to circumstances, accordingly.
If we were to use another term for supply chain, the most accurate one would be “arteries of global economy.” Now we precisely understand how important it is, for the affected supply change to start off on their recovery path.
Firstly, create a contingency plan, you could start it with scenario planning, different sectors – different demands, different strategies and supplies.
Digital transformation initiatives across the globe has started, technology based action and investment needs to be a priority from this very minute. For adaption and success in the long term, the entire organisational and operational structure must change from being central command oriented to central orchestration.
Here is how Converge Biotech is dealing with the recovery in supply chain :
Covid-19: An effect that pushed us to the boundaries, it was a time to fall back or bounce back.
During the initial phase of COVID-19 lockdown, the situation was crucial, the entire country came to a still and the front line warriors were risking their life to fight the battle against the pandemic
The biggest challenge to the Pharma industry was the mobility of the supply chain of medicines. We being into critical care medicines, we were the supporting bone for the frontline warriors and the entire transport system was operating with great difficulty.
During the first phase of lockdown, there was zero mobility of logistic services and there was no clear update on the goods in transit. We had immense restrictions on intra and inter-state supplies. Converge Biotech has put its complete efforts to make sure there was accessibility of medicines.
We had to find new modes and ways to supply our medicines across the length and breadth of the nations. To the place, we couldn’t access using ay mode of transportation we have made sure the medicines have reached the destination hiring commercial vehicles risking our lives to save some lives.
Our team was focused on making the emergency medicines available for the battle of COVID-19 keeping the commercial feasibility aside.
Converge and the entire pharmaceutical industry has supported the frontline warriors and the nation to fight COVID-19 effectively.
Converge Biotech Pvt Ltd.
The pandemic helped Gubba cold storage discover the real meaning of team spirit, this is what Mr. Kiran Gubba, CEO, Gubba cold Storage had to share about their learning sphere –
“Gubba is majorly into preservation of seed, pharma and food which undoubtedly comes under the category of essentials. So, there was not a single day where that our operations were on hold. We worked incessantly all throughout ensuring our teams health as the utmost priority. Initially we had the politicians, polices, locals opposing us. We spent so many days in the police station to acquire the legal permissions. This phase tested Gubba’s team spirit and the team support was more than overwhelming!”
After grasping the perception of various industrialist, we have come to a conclusion that this is a very uncertain journey, the world has not seen such a disastrous crisis in the past 100 years hence most of the industries are willing to invest their time and money in research and development as they believe it’s the most feasible way to fetch for a solution.