Coronavirus – How is it Jeopardizing the Industrial Operations Globally
One of the biggest news of the moment is the widespread release of the Coronavirus. The sudden outbreak of the virus in China has frozen the entire world’s economy majorly impacting countries like Japan, South Korea, Europe, and the United States.
Through this blog post, we help you understand – what is Coronavirus, how it spreads and how can you safeguard yourself from its aftermath? Alongside this, we will also walk you through the list of some major industries and companies the virus is impacting across the globe.
So, without further ado, let’s begin with our first segment.
According to the World Health Organization (WHO) website, Coronaviruses are zoonotic i.e., they transmit between animals and people. MERS-CoV, SARS-CoV, and nCoV are three primary types of coronaviruses that are now known to us.
The primary signs displayed by infected people include fever, cough, breathlessness. Negligence in medical care can further lead to signs of pneumonia, kidney failure, and even death. Schematic diagram below explains further the most common symptoms of the virus.
Though there’s no particular antidote available in the market to prevent coronavirus, regular hand-washing, covering of mouth while coughing/sneezing are some basic prevention tips you can implement.
The infestation of Coronavirus within China is alarming and scary for everyone. 4 decades ago, China underwent a major economic breakdown, but today it touches the lives of billions across the planet.
The right implementation of certain ideas from the West made China one of the largest economies in the world and this crisis within the country is rocking the entire market. Industries like tech, automobile, travel, pharma, etc. are all facing the downside with no recoverable solution to the disaster.
Below we list down a few industrial examples highlighting how the virus is affecting each category in particular:
- Most of the Apple Inc. products are manufactured in China. But, given the global outbreak, its production has slowed down terribly and thus the firm is no longer expecting to meet its second-quarter financial guidance. The lockdown has also impacted the supply of iPhones within India and other parts of the world.
- Even Microsoft relies heavily on customers who install its Windows OS on their laptops. But the sudden closure is impacting the production of these products too.
- Tech companies are even canceling out major tech conferences just to safeguard their employees. Facebook canceled its conference in San Francisco, while the organizers canceled MWC, Barcelona after Amazon pulled out its name from the conference over coronavirus concerns. In the latest update, even Google canceled its I/O conference this year.
- Chinese travel giant “Didi” too have now started providing its cab drivers with a plastic barrier (between the front and back seats) to safeguard themselves from the virus.
- Coronavirus has also hit the Indian automobile industry. Companies like Tata Motors, Mahindra and Mahindra (M&M) are some prominent names facing the component supply challenges.
Though many sectors are now facing supply-constraints, there’s another side of the story. The disruption in China has also given the domestic traders a golden chance to recapture the market. Local import-export suppliers like AadhyaExim can strategize and fill up the gaps in the absence of competitive and aggressive Chinese suppliers.
Owing to the widespread epidemic, businesses must prepare and brace themselves for the after impacts. They must safeguard their prospects while hoping for the supply and delivery chains to restore at a regular pace. If not, they must prepare a backup plan to include non-China based suppliers in their business model without hampering their operations. As normal individuals, we must Be Prepared and Be Hopeful for positive outcomes.
How are you safeguarding yourself and your loved ones from Coronavirus? Is there any special advice you would like to share with our readers? Feel free to drop-in your view in the comments section below.
Image Source: Statista