COVID-19 contingency planning: buy back time
In line with the continued easing of COVID-19 restrictions on economic activity, the global manufacturing economy continues to recover¹.
As factories restart, clients reopen and lockdown restrictions ease, manufacturing production has risen for the first time in four months. 98% of manufacturers are continuing to trade with a reported increase in operating levels over the past month². Majority manufacturers have forecasted a further increase in production volumes and many believe they can achieve over 75% of operating capacity by the start of 2021³.
Nevertheless, manufacturers have also expressed concerns over accessing necessary road and air freight capacities, the latter of which faces significant barriers due to customs delays and quarantine policies. As recently experienced in Leicester (UK), the possibility of bursts of infection and local lockdowns remain a threat. Such secondary lockdowns could potentially cause further supply chain interruptions, should a key supplier be located in a high risk area. To mitigate the impact of such hazards on your supply chain, you may need to speed up your logistics supply chain and buy back time.
At Priority Freight, that’s what we do best. As time-critical logistics specialists, we are here to help and offer comprehensive, bespoke solutions at the lowest possible cost. We deliver the fastest, most cost-effective and reliable solutions to our customers, no matter what the geography, size, weight, distance or mode of transport. If you need any assistance, or to discuss your contingency planning, simply get in touch »
¹ IHS Markit Manufacturing PMI, July 2020. ² Manufacturing Monitor, July 2020. ³ Manufacturing Monitor, May 2020.