FoodPacific Manufacturing Journal
Companies should be able to shield themselves from what they believe are potential risks to their businesses, and this is all part of risk management. But as it is, a crisis like the COVID-19 epidemic caught the world off guard, as threat of its spread from China toward the West, seemed remote at first.
For many global companies, China is a very important trading partner, and along with them we felt the country’s pain throughout this first quarter. As China-based businesses begin to recover, we do so with them. However, the pandemic continues to impact Asia, Europe, the US, and the rest of the world. Lockdowns are limiting the production, supply, and shipment of goods. With an end to this challenge not within sight, it begs the question: how do we continue serving our global clients at the time of COVID-19, and how can we prepare for a similar risk in the future?
This is a fitting time for introspection, to test the resilience of our business models, strategies, and how to protect our most valuable asset - our employees.
Several trade shows and conferences are being rescheduled for later in the year. You could view it as business opportunities missed, if not set aside. But meeting suppliers, sourcing products, or sharing new developments can still be effective without face-to-face meetings, thanks to technology. In fact, this is the strategy many companies are using now. Don't forget that Ringier can be your partner in this as well. Ringier makes sure to tap technologies to provide you with online sourcing portals for different industries, electronic newsletters for the latest market updates, print magazines delivered to your doorstep – or inbox, and other services for you to do business no matter where you are in the world.