FEM member, Vanderlande, has recently published a White Paper exploring the key impacts of the COVID-19 pandemic on warehouse operations, and the influence this has had on our global economy and financial markets.
The ongoing social and travel restrictions have significantly impacted consumer spending and therefore have directly impacted the economy. In June 2020, the IMF announced that global growth would fall to -5.4%, revised from +3%. However, while recovery is predicted, many businesses need to learn from this unprecedented situation to ensure that this may be managed in the future.
With a particular focus on the food retail, general merchandise, and fashion markets, key areas of interest to Vanderlande, their research highlights the significant impacts on each sector, as a result of factors affecting consumer trends.
With this in mind, Vanderlande looks further into changes that have occurred and the challenges facing businesses in this disrupted landscape, and how those working in logistics operations must be prepared for alternating consumer activity and demand.
Although recognising the challenges, the paper highlights that there are processes that can be implemented to daily operations that allows businesses to gain insights that will enable them to ‘’foresee, prepare and respond‘’ to new situations in order to retain control and profitability.
In presenting new opportunities, the COVID-19 pandemic has also brought new conversations to the table and encouraged businesses to look ahead and consider the future role of automation and logistic processes.