Dealing with the New Normal

ET PolymersJune - July 2020

Dealing with the New Normal
Manufacturing would commence but with a new normal. Demand would manifest itself in a different avatar which would change entire manufacturing practices in industry.
Ravindra Ojha

Prior to COVID-19, leaders in the industry were evolving strategies to take the industrial business to next orbit through Industry 4.0. No one dreamt of the havoc the virus could bring to humanity and business at large, in such a short span. The supply chain experienced a level of disruption never experienced before. Production of goods and services, the sign of prosperity, came to a grinding halt to level-zero. The focus swiftly moved to the survival mode of here and now. Life-protection, health-care, hygiene, food supplies and basic need fulfilment became the only priority. However, the success of lockdown and social distancing paved the path to hope. But, what after lockdown? Humanity would continue needing goods and services. Manufacturing would commence but with a new normal. Demand would manifest itself in a different avatar which would change entire manufacturing practices in industry.

The five key challenges and associated recommendations envisaged are:

Informal migrant labour chaos

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June - July 2020