Abstract
It is critical for the recovery of manufacturing industry against COVID-19 by analyzing its impact from supply chain perspective and exploring corresponding countermeasures. Firstly, this paper studies the initial impact caused by worldwide spread of the coronavirus, such as production disruption of raw material and spare parts, unsatisfied market demand due to setbacks in logistics, increasing bankruptcy risk for small and mediumsized enterprises (SMEs), and demand fluctuation enlargement. Secondly, the aftershock of COVID-19 is analyzed. With the trend of regionalization and digitalization, two-step countermeasures are proposed to help the recovery of manufacturing industry within the pandemic and better prepare for the post-COVID-19 world from supply chain perspective.
Key words: COVID-19, manufacturing industry, supply chain
Footnotes
Foundation item: the National Natural Science Foundation of China (No. 71772122)
References
- [1].Taleb N N. The black swan: The impact of the highly improbable [M] New York, USA: Random House; 2010. [Google Scholar]
- [2].Wucker M. The gray rhino: How to recognize and act on the obvious dangers we ignore [M] New York, USA: St. Martin’s Press; 2016. [Google Scholar]
- [3].Cheng F R. Supply chain thinking amid the COVID-19 outbreak: Lessons from beer game [J] Bulletin of the Chinese Academy of Sciences. 2020;35(3):289–296. [Google Scholar]
- [4].Ivanov D. Predicting the impacts of epidemic outbreaks on global supply chains: A simulation-based analysis on the coronavirus outbreak (COVID-19/SARS-CoV-2) case [J] Transportation Research Part E. 2020;136:101922. doi: 10.1016/j.tre.2020.101922. [DOI] [PMC free article] [PubMed] [Google Scholar]
- [5].Harrison A, van Hoek R. Logistics management and strategy: Competing through the supply chain [M] 3rd ed. London, UK: Pearson Education; 2008. [Google Scholar]
- [6].Rothwell R, Zegveld W. Reindustrialization and technology [M] London, UK: Longman Group Limited; 1985. [Google Scholar]
- [7].Vandenberg P. Adapting to the financial landscape: Evidence from small firms in Nairobi [J] World Development. 2003;31(11):1829–1843. doi: 10.1016/j.worlddev.2003.04.003. [DOI] [Google Scholar]
- [8].Jiang T. Studies of International Finance. 2020. The impact of epidemics on enterprises’ funding: Evidences from the syndicated loan market [J] pp. 65–75. [Google Scholar]
- [9].Pettit T J, Croxton K L, Fiksel J. The evolution of resilience in supply chain management: A retrospective on ensuring supply chain resilience [J] Journal of Business Logistics. 2019;40(1):56–65. doi: 10.1111/jbl.12202. [DOI] [Google Scholar]
- [10].van Hoek R. Exploring blockchain implementation in the supply chain: Learning from pioneers and RFID research [J] International Journal of Operations and Production Management. 2019;39(6/7/8):829–859. doi: 10.1108/IJOPM-01-2019-0022. [DOI] [Google Scholar]
- [11].Metters R. Quantifying the bullwhip effect in supply chains [J] Journal of Operations Management. 1997;15:89–100. doi: 10.1016/S0272-6963(96)00098-8. [DOI] [Google Scholar]