COVID-19 is impacting every business in some way, but manufacturers are under unique pressure.
COVID-19 is impacting every business in some way, but manufacturers are under unique pressure.
Though many have been forced to shut down, others have been called upon to help produce much-needed medical supplies.
All are facing challenges with supply chain management, security, and the continual obligation to keep workers as safe as possible.
Here are 5 risks facing manufacturers as they work through the pandemic:
1) Supply Chain Disruption
The most immediate and prominent risk facing manufacturers is supply chain disruption stemming primarily from the lockdown of factories across China.
Many companies rely on China for raw materials, including plastic products, textiles, electronics, medical devices and pharmaceutical manufacturers.
According to research by business analytics firm Dun & Bradstreet, every Fortune Global 1000 company has either a Tier 1 or Tier 2 supplier in impacted Chinese provinces. According to data published by the United Nations Statistics Division and summarized…
