Nobody knew of such a pandemic such as the novel Coronavirus that could disrupt the global economy and businesses across the world on a greater scale.
From healthcare to the lives of people, it seems like everything is kept on a shaking stand that can fall to the ground any moment if not taken care of.
This is the current situation all over the world, with everything getting affected, the impact of the Coronavirus outbreak on business operations is posing a huge delay in the growth of all businesses.
Especially companies and businesses are taking their responsibility to fulfill their customer’s requirements where they are obviously not looking for a particular brand but just something that can provide them with the basics.
What are the Impacts of Coronavirus Outbreak on Business Operations
With stores being shut and only essentials materials being sold in the market, businesses are building their continuity plan to help their clients and customers all over the world by being available. This is the time when just being available for the people will affect your business immensely in the later years or after this pandemic ends.
Just by providing your services, as usual, customers will know who was there to help them in need and everyone knows, what standing for people means.
Such businesses that are still working, though remotely, are working with some measures that are taken as their top priorities. These priorities include protecting their people, building resilient supply chains, and putting in place new ways to help and serve their customers.
With all this going on and the government making intervention to adjust and deal with the situation, businesses are also rapidly changing their approach and study to understand consumer behavior during Corona Virus to provide them with their needs.
Business operations to witness a decline as a Coronavirus Impact
As the import and export from China have been shut down due to the Coronavirus outbreak, the electronics industry, automobile industry, and pharmaceuticals have been hugely affected. The severity of the lockdown has impacted greatly on businesses all across the globe with the global economy going down each day.
As per the economics times, over 50 percent of Indian companies see the impact on their operations and nearly 80 percent have witnessed a decline in cash flows, says a survey.
The demand and supply facing a decline in growth, there is a complete slowdown in growth as in the third quarter of the current fiscal, the economy grew at 4.7 percent, slowest in six-year.
With a decline in the cash flow, a significant 53 percent of Indian businesses indicate the marked impact of the coronavirus pandemic on business operations even at early stages, Federation of Indian Chambers of Commerce and Industry (Ficci) said.
With all this going, businesses are also facing a reduced cashflow as an impact of slow economic activity. Not just this, a survey conducted by a market research company shows that the respondents feel that it will at least 3 months of duration which will bring normalcy in their businesses an market.
There has been a complete shift of businesses, take it from the global economy falling down and the suffering end of the logistics and supply chain management industry.
The very first thing to know is that industries are going down, the globe is suffering, and if this doesn’t end, it might make things much worse.Coronavirus (COVID-19) outbreak has already impacted the global economy and healthcare of the common public, now the industries getting impacted because of the downfall of the logistic supply chain industry.
have impacted the supply of essential products and food utilities.Many countries, especially such as the major developed country, the USA, that rely on foreign manufacturers to supply them with goods and services are facing a shortage of supplies already with their business shut down.How bad is the impact of Coronavirus on Supply chain & Logistics IndustryThe logistics and supply chain management industry is one such sector of the market which when affected causes major disruptions up to the level of the common public.
It is a market that runs on the business deals and understanding of different countries with each other to provide the basic necessities to their people.Coronavirus outbreak has impacted the supply chain and logistics industry at a major level as the import and export is at the halt and the supply of services and products have stopped, causing a huge threat to the economy and availability of food items and stuff.As the demand falls, these industries have to settle and create suitable strategies and measures of production values, posing a threat to their economy and business growth.
At such a time, it would be an aiding option to contain the supply chain risk by using correct data sets and forecasting tools to get the right perspective of supply, also making right decisions as per the changing environment of the market would also be a good option.A market research company in India suggests after analyzing the ongoing situation that many businesses are to mobilize and st up rapid crisis management mechanisms in order to make sure their business continues.
Even though it might not be for a long-term basis, the logistics and supply chain management industry ought to plan for the medium and long-term plans to have resilience for future reference.Recovering and surviving the impact of Coronavirus on Supply Chain and LogisticsThis very stage is requiring businesses to estimate their inventory in their value chain.
How online grocery delivery app has gone onto making considerable business during the coronavirus outbreak.
Check steps that need to be followed.
Due to the Coronavirus outbreak, over 1.7 billion learners are forced out of schools globally and they are turning to online tutors.
Time across these online tutoring platforms has been increased by 50% since the outbreak.
Find how these apps can better serve in this pandemic, https://yourstory.com/mystory/rise-on-demand-tutor-apps-covid-19
PM Modi addressed the nation on Tuesday, April 14, 2020, and said this decision to extend the lockdown in India was taken after considering suggestions from all the Chief Ministers.
On April 14, 2020, PM Narendra Modi addressed the nation and shared the updates about the coronavirus outbreak in India.
Keeping the critical condition in mind, the lockdown in India has been extended until May 3, 2020.
He said that the decision was taken after consulting with the Chief Ministers, regarding the crisis in different states.
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❒ Latest Health UpdatesGlobal Health Emergency For Coronavirus: The World Health Organization (WHO) on Thursday (30.01.2020) has declared the spread of Coronavirus outbreak which had originated in Wuhan, China a global health emergency during a conference, as the outbreak continues to spread outside China.
This was announced shortly after the report of first human-to-human transmission of the virus in the U.S. that was confirmed by the Centres for Disease Control and Prevention, according to ABC News.Read more: Latest Current Affairs
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