Dubai, March, 2021
Managing supply chain risk in uncertain times
In the third quarter of 2020, CRIF Gulf (Dun & Bradstreet UAE) gathered client feedback to assess the impact of the pandemic on business and operations. The study noted a high negative impact of the coronavirus pandemic on businesses. Many companies witnessed decline in revenues and cash flow as the primary impact of Covid-19. Analysis also showed how businesses experienced delays in customer payments and faced issues in collection of receivables causing liquidity crunch.
“There is a pressing need for businesses to ensure supply security through supply chain decentralization, and increased focus on resilience and digitalization,” says Leroy Pinto, Head of Marketing – CRIF Gulf (Dun & Bradstreet).
“To create a robust supply chain that can withstand future disruptions, transformation strategies need to be deployed including near-shoring, less just-in-time supply chains, and multiple sourcing of raw materials/finished products. Businesses also need to maintain proper visibility and constant vigilance of supply chains.” explains Pinto, adding that reliable data as well as technology will play an important role in supply chain planning and building long-term resilience in distribution channels.
Read the entire article on Gulf News