The outbreak of the Coronavirus has drawn fresh attention to the connected nature of today's global economy. We discuss its effect on the Manufacturing industry.
The spread of the Coronavirus across China in recent weeks is causing the continued shutdown of factories within the affected regions. The outbreak will have a direct impact on the supply chain and manufacturing on a global basis. China now makes up more than twice the share of global exports than it did in 2003 when the SARS virus hit.
Speakerbus undertakes all manufacturing in the UK for its products. However, several component parts used during the manufacturing process are sourced from China, from factories that are currently closed on a temporary basis to help prevent the spread of the Coronavirus. In the medium to long term (depending on the severity and duration of the virus), there may be an impact on manufacturing due to shortages of component parts.
Speakerbus' advice for clients
At this time, Speakerbus is advising all clients of the potential long-term impact this virus could have on the availability of new products. While there is no immediate threat, the spread, severity and duration of this virus in the coming weeks and months could change this situation dramatically.
Speakerbus has promptly established an emergency working group for this outbreak and has made systematic arrangements in the areas of the supply chain, communication guarantee, field service, and employee health and safety.
Speakerbus clients should consider the potential impact on critical projects with regard to the availability of products and make plans with maximum contingency during this time.
We will provide additional information should the situation change in the coming weeks. For more details, get in touch with our friendly team.