Pandemic Has Shown How Doing International Business — Particularly If…
Pandemic Has Shown How Doing International Business — Particularly If It’s Focused On One Country — Can Change Overnight
June 16, 2020
The COVID-19 pandemic has impacted the way global business is conducted and will most likely have a lasting impact.
Max Crane, Managing Partner of Sills Cummis & Gross said, “By now, most companies that I’ve spoken to have figured out workarounds. What has been happening, and what I think will happen going forward … is you have companies no longer putting all their eggs in one basket.”
Crane said that’s why you’re starting to see global businesses split up their supply chains instead of having them consolidated in one area.
“Especially on the manufacturing side, a lot of businesses are looking to have multiple or alternative supply chains or creating some redundancy,” he said. “Whether it’s China, Mexico or India, people’s eyes have been opened to why it’s not good to expose yourself in such a flagrant way to a crisis in a particular part of the globe.”