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COVID-19 Impact on Manufacturing Industry in Year 2020 One of the hardest-hit segments from COVID-19 is the manufacturing sector. The lockdown that followed brought the
COVID-19 Impact on Manufacturing Industry in Year 2020 One of the hardest-hit segments from COVID-19 is the manufacturing sector. The lockdown that followed brought the manufacturing facilities to a standstill, derailing the entire global supply chain. The impact of COVID-19 on the global manufacturing industry is classified into (1) automobile, (2) food & beverage, (3) chemicals, (4) machinery, (5) electrical and electronics, (6) metal, (7) aviation, (8) pharmaceutical and medical equipment, (9) personal care and cosmetics, among others. These businesses are facing concerns regarding the availability to supply materials to the manufacturing sites. As for electronics industry, most of their critical components were from China. Most of the Chinese factories were shut down due to the coronavirus pandemic. As a result, in January 2020, Chinese vendors have increased component prices by nearly 2-3% owing to shortage of supplies due to factory shutdown. Therefore, it has negatively affected the electronics manufacturing sector across the globe. In Europe, most of the automobile companies have temporarily closed their factories or minimize the production output, which results in loss to the global trade. The initiative is aimed for the safety of their workers. The closure of factories by major automobile manufacturers resulting in a loss in automobile production, which in turn, is affecting the automobile sector in Europe. All the major sectors of manufacturing industry are suffering in the time of COVID- 19. Reduced demand, and disrupted supply chain have been their major headaches. However, with challenge comes opportunity. Once the dust settles, the process manufacturers will find it imperative to innovate and change with time to remain relevant. Sources: Online Articles Required: Read the article above and answer the questions below. You may support your answer from your findings through other sources, i.e.: online, books, articles, etc. 1. Choose any FIVE (5) types of manufacturing businesses from the article above and identify types of materials supply disruption incurred for each business. 2. Briefly explain the safety measures that can be carried out by the manufacturing company to protect their workers during pandemic. 3. Identify manufacturing businesses that recently have the highest demand during pandemic. 4. Is it advisable for the manufacturing company to think of switching to a new product or process in order to meet new demand goals? Justify your answer. PLEASE ANSWER QUESTION NUMBER 4 ONLY
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