Business updates

The MCCI is monitoring closely the impact of Covid-19 and requests members to come forward as soon as possible in case of any disruption in the supply-chain.

The MCCI recommends the following:

- Identify key suppliers in areas affected by Covid-19

To analyse whether any of the key suppliers, distributors or warehouses are located in main affected areas.

- Secure alternative sources and increase inventory levels

Activate mitigation measures and start securing alternative sources from elsewhere in or outside China and increase inventory levels.

- Educate internal staff and key suppliers

Educate staff, key suppliers about potential impact and enforce precautionary measures so as to minimize impact on productivity and downtime.

- Monitor potentially disruptive supply chain risks

Use real-time supply-chain risk monitoring tools to assess the impact of government shutdown in industrial areas as well as potential disruptions in transport and logistics

- Encourage dual-sourcing strategies for key companies

Identify alternative sources for products/raw materials and undertake cost-benefit analysis to assess added costs for sourcing from different regions

- Develop contingency plans for supplier outage

Work on contingency plans and prepare for any long-term impact of Covid-19, including factory closures or disruption in supply chain and logistics