Supplier financial distress warnings have jumped 119% this year as regional lockdowns, plant closures and employee quarantines caused by the coronavirus pandemic have frozen cash flow and revenue for thousands of companies.
The coronavirus pandemic is just the latest disruption to hit global supply chains, and endanger the stability of key suppliers. But many retailers don’t seem to have learned the lesson of past such events.
Accurate time tracking is critical to managing job costs in order to achieve profitability for construction businesses, separating successful businesses from the rest of the pack.
Economic experts have warned for years about the dangers of rising corporate, personal and government debt. Combined with the coronavirus pandemic, is this what will cause the next recession?
In the rush to reassure, administrations have stumbled in the rollout of measures, leaving companies from catering to construction confused and increasingly anxious about accessing aid.