Coronavirus Wreaks Havoc On Retail Supply Chains Globally, Even As China’s Factories Come Back Online
At first, U.S. retailers were most concerned about manufacturing facilities being disrupted by COVID-19 in China, where the virus originated. Now, in the midst of a global pandemic, this is a much bigger issue than China. While some manufacturing operations are getting back up and running, much of the rest of the world is in distress. The coronavirus could deal a blow to companies already on the brink of going out of business. While it may seem far off, the disruption is already starting to impact the shipment of goods to retailers for the back-to-school season, analysts say. And if the situation persists, it could end up hitting the holidays, when many retailers make the bulk of their profits. “In 25 years, I have never seen anything like this,” parcel managing and logistics platform ShipMatrix President Satish Jindel said. “There is a psychological element, which is very hard to predict. … This is an unprecedented situation.” Read more at CNBC.
