THE raging Covid-19 pandemic crisis has continued to take its toll on the economy here and abroad that currently is heading to a steady decline, thus creating adverse effects across different verticals, including export, particularly logistics that includes the supply chains of almost all industries.
According to the United Nations Conference on Trade and Development, the pandemic’s impact on the world trade could mean a $50-billion decline in total global exports.
This is expected to also hit the Philippine supply chains even if the government have eased the lockdowns to reopen the economy while continuously addressing the unprecedented health emergency.
Amid repercussions of Covid-19 to the global trade and industries, it should not be a reason for the international business community to be paralyzed with fear, per JP Marzan Project Ventures Inc. Chairman Jay Marzan.
“Now, more than ever, supply chain leaders must rise to the occasion, and help fight both the pandemic and the economic decline,” he said.
Logistics industry, which handles the movement of goods around the world, may be experiencing declines due to lockdowns and restrictions on the movement of goods and services, but the significance of this sector, specifically the supply chains, is still evident even in these trying times.
In the Philippines, for instance, the government recently imported millions of personal protective equipment (PPE) sets worth P1.8 billion from China.
It plans to send naval ships to hasten the importation of the PPEs since only about 70,000 sets of such protective gears have so far arrived in the country—less than 10 percent of the total amount.
The products would then be brought to the warehouse managed by the Office of Civil Defense prior to its distribution to various hospitals.
It would take time, however, to completely transport the much-needed medical supplies.
“It is instances like this that logistics leaders can make a difference where they can help the country’s economy and the health and safety of the frontliners during this pandemic,” Marzan noted.
Communications and crisis management, he pointed out, are highly essential now that the entire logistics industry is confronted by the contagious disease.
Creating effective plans to improve the supply chain and constant dialogue between leaders is very crucial at this point to immediately determine any weak points that need to be assessed and addressed, he said.
“Leaders need to make rapid and immediate decisions to sustain operations so they can maintain the successful distribution of supplies and services quickly, safely, and securely to the frontliners and people at risk of infection. Supply chains must take a holistic approach and create a strong framework,” Marzan explained.
Because the pandemic is projected to affect not only the logistics industry but also the global economy in the long run, he reiterated that careful planning must become an important part of crisis response both from the public and private sectors.
JP Marzan, the homegrown logistics firm he leads, dedicates itself to help meet the challenges of the globalized market and serves as a reliable partner for the country’s economic growth.