IMPACT OF COVID 19 ON CONSTRUCTION SUPPLY CHAIN

The construction industryhas been trading lighting, plumbing and electrical fixtures since ages; due to the lockdown, all the ongoing projects are stranded at the initial stages.
IMPACT OF COVID 19 ON CONSTRUCTION SUPPLY CHAIN

In the last decade, China has grown into a pioneer manufacturer with its unmatched production capacity, enticing the leading companies and investors; it became the epicentre for every sector. With the COVID-19 pandemic, the world realized its dependency on China for product manufacturing of complete products or parts; the global lockdown has stalled trade with the country leading to a freeze in the global economy. The construction industry has been trading lighting, plumbing and electrical fixtures since ages; due to the lockdown, all the ongoing projects are stranded at the initial stages.

 The real estate market, with a stall on the progress of every project, is facing inconsistency in terms of the immediate future, stabilizing the client’s commitment has become the primary goal of every firm. Further, enhancing the design progress - material acquirement and assessing the post lockdown situation are few solutions that the architecture firms are coming up with to ensure ongoing progress. With the chances of the virus spreading through surfaces, making use of existing materials has become a menace; dependency on manual labor with no alternative is now proven to be a gamble for the construction industry.

 Furthermore, the luxury industry which interlaced its existence with imported global trends has gone numb. Elaborated use of exotic materials, expensive décor, and contemporary trends in the luxury interiors demand import quality goods from global manufacturers – with trade prioritizing the essential products, the luxury product market is stuck. Italy is the leading hub for product design, one of the most recognized furniture fairs- the Salon de Mobile showcases furniture brands from around the world every year in Milan. The shutdown has led to a design crisis as the interior design depends on global trends, hence delaying project decisions. Sanitary ware, window systems, premium tiles are all from Italy and Turkey- which are now tough to reach for.

 Due to globalization, a deep symbiosis of nations was formed by articulating complex supply chains and logistic systems to make it easy for consumers to enjoy the benefits of products from foreign lands. Despite such complex nature of this web, nations have failed in anticipating and collaborating the lockdown. This experience has engraved a lasting lesson in the commerce of construction and design industries.

 A part of the learning curve is the noticeable shift in the mitigation of supply chain strategy at the global platform. The redesign of the supply chain network into a diverse, decentralized and trade-friendly location is quintessential. Though it is going tobe complicated, the supply web must be rebuilt and restructured. While redesigning, the productivity and accessibility must be prioritized to sustain the supply even in tough times like these.

 

Publish Date
Not Sponsored
Live: People Reading Now
 
 
 
 
TRENDING ARTICLE
RECOMMENDED FOR YOU