The coronavirus, or COVID-19, outbreak in China has caused the shutdown of many plants and disruptions in the local transport networks. This will now have a ripple effect on many companies global supply chains and represents a severe test of your supply chain risk management capabilities.
A recent survey by Amcham in Shanghai shows that many companies will struggle with their mitigation and business continuity efforts. For example 61% of companies apparently has no other option but to wait for their plant to re-open again in the coming weeks.
How we can support you to respond
1. Help you get a better visibility of the scale and impact of this disruption
While your teams are currently busy reaching out to your first tier suppliers to find out the latest status, in nowadays interconnected supply chains and with China producing many intermediate products, your company might be exposed through the next tiers of suppliers with production in China. We can support to map your supply chain 2 or 3 tiers deep to help you anticipate risk and potential disruptions. By having a local team in our Hong Kong & Singapore offices who knows the environment and speaks the language, we can support your European and American teams get a clearer picture faster.
2. Introduce new digital tools to continue to work remotely
This disruption will speed up the adoption of digital tools to enable work to continue remotely, not only for office staff to work from home, but for technical staff to continue to offer technical support. We are familiar with many tools and can recommend the right one for your business, for example SightCall, an AR-powered remote video assistance tool.
3. Provide interim management support for contingency planning
While your first reaction might be to hunker down and try to resolve the crisis with your internal team, a temporary extra pair of expert hands and fresh eyes can help. We offer interim managers to assist with business continuity planning.