COVID-19 has disrupted supply chain globally forcing companies to relook at their supply chain model for survival.
In the current time of crisis, companies are forced to relook at their supply chain models and transform the traditional supply chain mechanism. India has imported $480 Billion in FY 2019 ranking 11th in the whole world in terms of import. So it is evident that India’s importing capacity has been impacted majorly due to Covid-19 and so does the production and resulting losses to the company. Lockdown all over the country has also disrupted the domestic movement of goods.
As per a March survey conducted by the Institute for Supply Chain Management, nearly 75 percent of companies reported supply chain disruptions in one form or the other due to coronavirus-related transportation restrictions, and the figure is expected to rise further over the next few weeks. Other interesting figures that emerged from the survey included the lack of any semblance of a contingency plan for almost half the companies in case of a supply chain disruption leading back to China, and well over 50 percent of the companies also reported experiencing sudden, unexpected delays in receiving orders, a problem compounded by supply chain information blackout from China.
For more details, please refer to the attached document:- Managing Supply Chain in the time of Covid 19
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