THE IMPACT OF PANDEMIC ON MANUFACTURING BUSINESS
The pandemic of COVID-19 virus has caused a slowdown in the global economy. Big changes in demand, and distribution challenges have drawn attention to the weak spots in the organisation of production throughout the world. This has mostly impacted companies which have distributed their sectors to different and remote places.
The pandemic has affected the global economy in several ways. Primarily, the demand for certain products has witnessed abrupt changes.The industry of medical equipment, hygiene products and basic foods have witnessed tremendous demand which has even led to a temporary scarcity of these products.
Production companies with complex distribution processes have faced a disturbance in the supply chain due to improper reactions to crisis situations. All industries are rapidly adapting to the “new normality”, bringing changes and flexibility into their business processes.
In times when the pandemic has become an integral part of our life and work, strategic planning is of key importance for ensuring a well-connected and space-balanced business ecosystem, which improves cooperation between supply chains, promotes innovation, and ensures compatibility with local ecosystems.
During this process, solutions that are both ecological and provide easy production scaling and organization flexibility, will be in demand.
Industrial parks could play an important role in this, because they offer the possibility of organising all distribution and production processes. Furthermore, with good transport connections, they make the procurement of raw materials and the management of end-products easier.