LONDON--(BUSINESS WIRE)--Mar 17, 2020--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the strategies to minimize the impact of coronavirus on supply chains.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200317005564/en/

Supply chain disruptions are one of the major impacts of the coronavirus outbreak. Quarantined workers and the shortage of components are affecting manufacturers across the globe. The situation might worsen after the first quarter of this year. Companies having global supply chains could expect a delay in the supply of raw materials and products. Also, shipping and delivery could become a major concern for some industries.

“If the shutting down of global supply chains continues, there could be a scarcity of other day-to-day essentials as suppliers face their own challenges,” says a procurement expert from SpendEdge.

How Can Companies Prepare for the Future?

Advanced manufacturing units

Advanced manufacturing and technologies such as 3D printing and artificial intelligence will not just shorten supply chains but also reduce the impact of unprecedented risks. Rather than building massive factories and making one city a manufacturing hub, companies need to create smaller manufacturing hubs in different cities.

Want to know advanced manufacturing unites can help companies reduce the impact of such pandemics? Request free platform access to leverage our smart procurement solutions now and 1000+ procurement reports!

Localized supply chains

Creating a small and agile supply chain is the need of the hour for companies. In this cut-throat competition, companies cannot simply afford to have a 30-day shipping time from China to the United States. They require supply chains that are agile to address different risks and innovation. Having advanced manufacturing engineering offshore really makes it difficult for companies to be innovative onshore. To understand how leading companies are building agile supply chains, get in touch with our experts now!

In-house logistics

Strengthening the in-house logistics network is extremely crucial for companies to manage the crisis response. Deploying human and autonomous capacity can help companies to obtain the delivery of crucial supplies and resume their operations. Waiving fees for some suppliers could also help companies minimize the impact of such risks.

To know more about coronavirus impact on supply chains, read the complete article here!

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About SpendEdge:

SpendEdgeshares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Want to gain detailed insights? https://www.spendedge.com/get-more-info

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT RETAIL HEALTH INFECTIOUS DISEASES TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT

SOURCE: SpendEdge

Copyright Business Wire 2020.

PUB: 03/17/2020 12:19 PM/DISC: 03/17/2020 12:19 PM

Copyright Business Wire 2020.