Impact of COVID-19 on Manufacturing Industry & its After Effects
COVID outbreak is causing a major concern and economic hardship for consumers, businesses, and communities across the globe. Almost every industry has been badly affected by this pandemic, and this comes as yet another blow for the windows and doors manufacturing industry.
The lockdown was imposed suddenly to the economy without giving time to people to understand the situation and to manage its businesses. No one was outfitted for this. With millions of people in completely or partially lockdown, the pandemic has pushed societies to quickly and dramatically change in how we work, communicate, socialize, and consume products and services. Even after the relaxation given by the government, no guidelines were given to manufacturing industries to reopen their factories. With the shutters closed, the industry had been handicapped and this has affected the livelihood of many.
Manufacturing units have already suffered a huge loss, the service providers were still functioning from their homes but industry units have been affected badly, thus the livelihood of those associated with the industry is at stake.
In this uncertain time, almost 90 percent of the workforce had gone back to their native places, leaving manufacturers in the lurch. Both the public and private sectors have been scrambling to slow the spread of the illness and contain COVID-19 infections. While the full economic consequences of this black swan event are still unclear, we know that the effects that the virus—and the drastic measures being taken to contain it and are already precipitating change across industries.
Manufacturing industry is looking at refurbishing tools and technologies and the methods that motivate the next generation workforce. Industries have decided on how to go about the future, post lockdown industry has taught its workers the new standards expected from them. A few precautions such as thermal sensing, sanitizing the factory, providing sanitizers to workers, establishing boundaries of social contact, should be taken to keep working amidst this pandemic will now be a necessity. The manufacturing sector has started to think about long-term and has moulded its businesses model accordingly, as now it becomes a necessity due to COVID outbreak.
The most immediate concern currently on the minds of manufacturers, in-fact for that matter every citizen is cash flow and working capital. Many from this industry is recognizing that COVID-19 is a wake-up call to change and improve different aspects of manufacturing operations. This pandemic came as a bolt from the blue for the manufacturing sector for businesses that were digitally under-prepared.
Technology has now become the new backbone of the manufacturing industry that wants to succeed in the post-COVID world. Digitization is no longer optional; it has become a critical need in a scenario where physical interactions will continue to be extremely limited and remote access to everything will be the order of the day. The traditional market, will not be possible for a long time, so holistic e-marketplaces will become an important way for manufacturers to reach out to potential customers, suppliers, and lenders to grow their business.
In contrast to many manufacturing industries, the UPVC business has seen some optimistic approach on the manufacturers despite constant negative outcomes amidst lockdown. No doubt the business industry is getting affected to a different degree by the current macro-economic situation but due to backlog, Doors and windows industry don't get an immediate impact on the business. Amidst the Covid-19 threat, UPVC Industry is finding a way to forge ahead. It would be safe to assume that UPVC would be the last business to get affected by the lockdown, producers from this industry are facing enormous weight from their customers to quick deliveries of the earlier orders. One important thing this industry is focusing on is gearing up on project delivery. During the Covid-19, UPVC Industry is finding a way to forge ahead, as already started housing construction activities is driving the demand for UPVC windows and doors in the market.
As the pandemic passes, we might see the demand for hands-free control through secure mobile apps which will provide secure access. One might switch over app-controlled doors & windows as it is one of the ways to maintain social-distancing.
Slowly but gradually every industry shall find its way to get through this pandemic.Covid-19 has surely made us alert to get through future pandemics. People have realized that health is a new wealth now.