One of the most striking impacts of the Covid-19 outbreak is the harsh way it has exposed the weaknesses in supply chains for businesses around the world. Many were caught out amid panic buying of daily necessities, such as toilet paper, the unexpected demand surges for baking products and some food items, and most tragic of all, the scarcity of life-saving drugs, ventilators, masks and personal protective equipment. Despite decades spent fine-tuning supply chains, most companies found themselves struggling to fulfil their needs for raw materials or finished products.

SOURCE: The Straits Times

Image credit: .ST PHOTO: ZHANG XUAN

COVID-19 presents a major challenge for organisations all over the world. It has prompted many companies to adapt to this “new normal” and find alternative ways to conduct business. While it is uncertain to what extent conditions will change, the importance of adapting at speed is paramount. By adopting a proactive mentality, there are several things organisations can do to foster a stronger competitive advantage in the aftermath of the COVID-19 pandemic.

SOURCE: Supply Chain Digital

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Over the next 15 months, Africa is set to receive a total of $50bn towards its economic recovery from the World Bank, which has identified the protection of the region’s small and medium-sized enterprises (SMEs) as essential to its economic bounce-back from the coronavirus. Financial technology (fintech) has a key role to play in this.

SOURCE: Oxford Business Group

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With the restrictions imposed to combat the COVID-19 pandemic slowly loosening, businesses are thinking about returning to work and what this will look like in practice. While it will not be business as usual, this article highlights how employers can smoothly transition back to work.

SOURCE: LEXOLOGY

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Many governments have focused on providing special unemployment benefits to laid-off workers. However, few programs have tried to train and entice workers to switch over to understaffed sectors of the economy. To be sure, this approach is not a magic bullet — in the past months, consumer demand has dropped dramatically, meaning that some reductions in the workforce were inevitable, making unemployment assistance a necessity. Nonetheless, there has been a missed opportunity to help rebalance demand and supply for labor at a critical time, which could soften the blow for many workers. To correct this imbalance, we need mechanisms to assess missing skillsets quickly and rapidly retrain laid-off workers. Doing so requires speedy and seamless collaboration across different sectors, as this crisis cannot be dealt with either by the private sector or by governmental agencies alone.

SOURCE: Harvard Business Review

Image credit: Daniel Grizelj/Getty Images

Latin American central bankers and regulators have put into action a series of measures aimed at blunting the impact of the coronavirus, COVID-19, as the threat to their citizens and economies grows severe. These emerging market nations have moved, alongside their developed market peers, to increase local market liquidity, cut interest rates and begin addressing the expected surge in bankruptcies that come as a result of empty restaurants, aircraft and shopping malls, to name just a few of the COVID-19 consequences.

SOURCE: Latin Finance

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After the devastation wreaked by Hurricane Maria in 2017, the Dominican company, Rodney’s Wellness Retreat used a Direct Assistance Grant to rebuild and enhance the company’s resilience. Despite the halt to operations due to the COVID- 19 pandemic, Managing Director of the Retreat, Lucilla Lewis anticipates “a strong recovery”.

SOURCE: Carib-export

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The COVID-19 pandemic has significantly changed consumer behaviours and needs. Several Caribbean firms have strategically repositioned themselves to successfully access new opportunities that have arisen as a result of these evolving trends.  Review the various strategies your company can use to identify your opportunity.

SOURCE: Carib Export

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