Unprecedented, uncharted, and uncertain. These words describe the global situation we are in right now with the novel coronavirus (COVID-19). The World Health Organization has officially classified it as a global pandemic, with the latest number of confirmed cases being nearly 200,000.
National, local and business leaders alike are facing incredibly difficult decisions. And they have to make these decisions against the backdrop of constantly changing data influenced by global factors well beyond our control.
The ripple effects may soon be upon organisations that build, own or manage assets. The sectors with affected supply chains could include construction, infrastructure, resources, utilities, and government bodies. The impact is likely to hit subcontractors first as the supply of materials wanes. As subcontractors cannot obtain and install building materials, further up the line, head contractors cannot construct installed products. Ultimately, they will also not be able to meet their contractual obligations.
Business as usual (BAU) disruption also shows through the fact that major procurement, supply chain, and construction industry conferences are being cancelled, postponed or moved online following the government’s ban on large gatherings.
Discover how to stay agile through different stages of the crisis, with measures to take immediately, in the short-term, and in the long-term. Read more from Felix here: https://blog.okfelix.com/supply-chain-risk-mitigation-coronavirus