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When a company fails to deliver on that promise-even if that failure is due to forces beyond the company’s control-reputation can take a serious hit.

Reputational impacts: A brand is a promise, and a company needs to consistently deliver on that promise to keep the brand strong.

The Phase 1 U.S.-China deal provided some relief to manufacturers, but the coronavirus crisis could impede China’s ability to fulfill its end of the trade agreement and delay any Phase 2 deal negotiations. manufacturing, which was already nearing a slump at the end of 2019. How fast the economy-and the Chinese economy in particular-will be able to rebound from the crisis is yet to be seen, and any slowdown in global demand may exacerbate existing headwinds for U.S.

Economic impacts: The COVID-19 crisis does not end when the outbreak is finally contained.

Increased transportation prices: Once factories can resume production, companies will likely rush to get their operations back online and make up for lost time, which could cause a sharp increase in transportation prices.A shortage or delay of products can seriously impact a company’s reputation and may result in lost customers or even legal consequences. Fulfilment delays: Quarantines, travel restrictions, and workforce shortages can make it difficult or impossible for impacted manufacturers to fulfill their contractual obligations to their customers.

When existing inventory runs dry, we can expect to see shortages and / or price increases throughout supply chains if alternate sources aren’t secured. However, these resources are limited and will run out eventually.

Supply shortages and increased prices: Until affected factories can resume production, manufacturers will need to rely on inventory stockpiles.

We’ve summarized some of the crisis’ specific impacts to manufacturers below: According to BDO’s Manufacturing CFO Outlook Survey, 21% of manufacturers say they’ve experienced a disruption to their supply chain as a result of government restrictions in the last 12 months. Even before the virus became a global crisis, manufacturers had to contend with the disruptive impacts of U.S. Not all parts can be easily sourced elsewhere, however, and some automakers may not have any other option but to wait out the crisis.ĬOVID-19 isn’t the only issue plaguing supply chains. Automakers rely heavily on China for auto parts, and some major automakers have temporarily closed plants in South Korea and Japan due to supply shortages, while others are racing to find alternative sources of supply in Europe or elsewhere. The virus’ disruptive impacts are rippling throughout global manufacturing supply chains, particularly in the auto sector. The novel coronavirus (otherwise known as COVID-19) crisis has struck a serious blow to the manufacturing industry, which was already battling trade policy turbulence, a slowdown in global manufacturing growth and broader economic uncertainty.

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