A coalition of food distributors has asked President Donald Trump and Congress for financial help to safeguard the food supply during the coronavirus crisis. "We ask you to urge the Treasury Department to establish a priority for loan applications from the foodservice distribution industry," the group wrote.
Henry Schein CEO Stan Bergman says the US needs to expand production of personal protective equipment and other health care supplies. "We don't have capacity in the US, and I think we need to develop that capacity very quickly because other countries have restricted the movement of these products," he says.
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Industrial distributors must stay flexible and communicative, whether in their staff training, operations or inventory, to meet the demand challenges caused by the coronavirus pandemic and other unexpected events, writes Stacy Ward. "When you have a Plan B and a Plan C and you can continue operating, you're resilient," says Ananth Iyer of the Krannert School of Management at Purdue University.
Businesses can strengthen their supply chains by assuming disruption will happen, say Rodney Manzo of Anvyl and Mike Corbo of Colgate Palmolive. They also recommend having varying levels of contingency plans and emphasize the importance of stakeholder collaboration.
Reflecting on the fragility of modern business practices, Geoffrey James outlines traditional strategies that might come back into fashion. Companies might move back to stockpiling inventory to mitigate disruptions and embrace renewed diversification of products and services, he notes.
Breathing exercises, journaling and seeking inspiration are three small ways you can help yourself navigate stress during crisis, write Dr. David Fessell and Daniel Goleman. "These gentle reminders of the good we are doing can help shift our perspective to a higher level, one of heightened awareness of our interconnectedness and common humanity," they write.
Join NAW and ITR Economics for this critical economic outlook webinar, "Distribution Industry: Navigating the Crisis," featuring Alan Beaulieu, NAW Senior Economic Advisor and President of ITR Economics, on Thursday, April 9, 3 p.m. EDT. And, Alan will answer your questions. Seats are limited, so purchase your seat today!
Mark Dancer says, "First-line managers are a powerful force for surviving a crisis, but only if leaders help them embrace a new role. Every employee wonders how long the crisis will last, which work is most important and if their job is secure. Leaders don't have all the answers, and employees know it. The role of first-line managers shifts from directing activities that drive performance to gathering ideas that may help the company survive." Read his post.