When Covid hit, most of the world’s factories closed their doors. A year on, those plants are back in operation but many business owners are bracing to make a Big Pivot to compete in a much-changed economic landscape.
After a 7% plunge last year, world trade is predicted to expand by 9% in 2021 as better treatments and vaccination roll-out allow economies to reopen. There is consensus that a return to normality is on the horizon.
However, this does not mean a return to business as usual: having survived the pandemic, manufacturers and distributors realise their operations must be more resilient to sudden shocks.
Many of those that have diversified production facilities across the world, seized opportunities to move more business online and invested in sophisticated digital management tools are now looking forward with confidence.
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Contributors:
Mark Fagan, Global Manufacturing & Distribution Leader, Partner, Citrin Cooperman
Anurag Singhi,
Partner, Singhi & Co
Daniel Martine, Partner, Moore Kingston Smith
Kai Reuning,
Director, Moore South Africa
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