The spread of COVID-19 has affected thousands of lives and prompted many industries to think of transforming their supply chain model. So, this virus is now the black swan of 2020. It has already revealed the vulnerabilities of various businesses, which heavily rely on China to fulfill their business needs. The World Health Organization (WHO) declared the outbreak of COVID-19 or coronavirus a pandemic. Even after over two months, the virus is showing no visible signs of slowing. On a global level, more than eighty countries have imposed various policies to prevent the further spread of COVID-19, which mainly include quarantines, travel restrictions, suspending maximum business operations, and so on.
For many years, China has become known as the world’s largest manufacturing hub of electronic products. It is also called as “the world’s factory” owing to its strong business ecosystem, low taxes and duties, competitive currency practices, and the lack of regulatory compliance. The COVID-19 outbreak is arguably more impactful on operations and supply chain.
Initially, many companies struggled to deal with the fallout, which had a deep impact on manufacturing outcomes. Now, after China declared control over the spread, various factories in China from less virus-affected areas have re-opened, but the shipment and transport are still badly affected. Thus, many companies across the globe that have Covid-19 cases, as well as businesses with China, such as the USA, are taking preventative steps to avoid supply chain risk management.
How is Venture Mfg. Co. Preventing Supply Chain Disruption?
Venture Mfg. Co. is a US-based manufacturer of motion products and has come up with key guidelines that might trigger for policy changes. The company is focusing on all the necessary measures to prevent the impact of the virus on supply chain management.
- Hygiene and Sanitation: The company has been keeping its facilities, as well as inventories safe and sanitized, considering the vulnerability of the supply chain. Following these safety practices has helped prevent disruption in manufacturing.
- Safety of Employees: The health and safety of employees are of paramount importance for Venture Mfg. Thus, the company is actively taking efforts to determine the right policies for their staff. At this time, the company is educating its employees on signs and symptoms of COVID-19 and precautions that can avoid the risk of contracting the virus. Also, Venture is highly focusing on implementing a workplace emergency response protocol.
- Production Scheduling: In the time of crisis, many manufacturers are devising productive strategies to minimize disruption of supply chain. Venture is also implementing advanced planning and scheduling system that can improve their production with ease. They are taking the orders on first-come-first-serve basis to minimize the effect of the situation.
- Stringent Screening Protocols: Venture has a screening process in place for its employees and visitors. They also allow sick employees to take leave, and most others to work from home unless it is essential to be present in the office.
It’s quite impossible to predict the arrival and gravity of global crises such as COVID-19. However, businesses can lighten their impact by keeping their supply chain preparation to a higher level and leaving some buffer to accommodate such situations. They should be ready with new plans even before a disruption occurs. To know more about the COVID-19 supply chain plan, you can contact Venture Mfg. co. via phone or email provided on the website.