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Four Solutions for Logistics Industry to Overcome Challenges during the Covid-19 Pandemic
Many airline companies have modified their passenger planes to cargo planes during the pandemic to keep their profits high and offer workers employment.
Fremont, CA: The worldwide global logistics industry in Q1 of 2020 has seen an overwhelming trade volume growth because of the COVID-19 pandemic. The effects of the stagnant global economy have affected the global supply chain. Because of the losses, manufacturers, and suppliers of consumer and industrial goods have decided to realign the supply chain.
Here are four solutions for the logistics industry to overcome the challenges:
To limit the spread of the virus, many logistics companies have implemented the Internet of Things Warehouse facilities, robotics systems, and artificial intelligence-driven technology platforms for customer management. Adopting e-freight services has also contributed to providing alternative market routes to minimize contact and spread of the virus during the pandemic.
Combined Efforts by Suppliers
As the number of suppliers decreases, the remaining ones have collaborated to share costs. In some cases, manufacturers have agreed on sharing the storage costs on containers during shipments. This combined effort has allowed them to still be in operation even with low volumes to work on.
Airlines are Adopting the Cargo Way
Many airline companies have modified their passenger planes to cargo planes during the pandemic to keep their profits high and offer workers employment. Additionally, cargo planes and freight operators have launched services that help small and medium freight forwarders.
Implementing Mitigation and Emergency Approaches
The restrictions in the distribution of goods and services by many companies have resulted in adopting a "what-if" strategy. A number of production companies have decided to adopt dual-sourcing of their raw materials, local productions, or in-house approach.
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