* The below information was provided from an episode of Lenz on Business featuring Dr. Karl Manrodt, Professor of Logistics and Supply Chain Management, and student Jeremiah Griffin, Senior Manager for Process Improvement and Supply Chain for Walmart. *
The coronavirus, or COVID-19, has impacted millions of people around the world. So it’s no surprise that the logistics and shipping industries are feeling these effects as well.
Changing Best Practices
Across the globe, logistics strategies and plans are being disrupted left and right. Existing plans and forecasts for product demand, pricing, and timing was all completely derailing. When coronavirus broke in the United States, it flipped all of this on its head.
Changes needed to be made quickly to keep up, leaving many businesses scrambling. Times for shipments increased, numbers of new products ordered increased, and the way these items were transported also shifted.
Shifting Perspectives on Where Products Come From
With all of these changes rapidly affecting the United States economy, other important conversations around logistics bubbled up as well. Many people and companies have refocused on the high percentage of products coming to our consumers from outside of the United States. Could it be worth the time and effort to start developing more products within the U.S.? If this percentage were changed, would it make these processes more efficient and safer? These are all questions those in the U.S. logistics industry are asking themselves.
However, these conversations are just the start. A shift like that would take years of planning, producing, and millions of dollars spent. Right now, the pros and cons need to be weighed by both the political sphere and the public sphere before any changes are made.
But coronavirus has certainly highlighted this conversation more than ever before.
With all of this change and uncertainty, companies and individuals have had to step up to keep the world turning. In this time of fear and anxiety, people need to look towards those who are doing inspiring work. Companies that stare down the face of adversity and come out on the other side stronger remind everyone around them that good can still happen.
Want to read a success story yourself? Click here to see how UPS stepped up to deliver life-saving technology.
If you want to hear more about how the logistics industry is impacted by the COVID pandemic, click here to listen to an episode of Lenz on Business featuring Dr. Karl Manrodt, Professor of Logistics and Supply Chain Management, and student Jeremiah Griffin, Senior Manager for Process Improvement and Supply Chain for Walmart. The two go into significant detail discussing how COVID-19 is impacting their industry.
The Georgia WebMBA, Master of Logistics and Supply Chain Management, and Master of Management Information Systems at Georgia College offers professionals the opportunity to make their next move by earning an accredited online master’s degree. If you’re curious about how we can work with you to help you complete your online MBA and expand your leadership skills, especially in the face of a pandemic, click here to contact us today.