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The Business Impact of Coronavirus: It’s Not Just Short-Term

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management | Mar 23, 2020 7:49:56 PM

In its latest report on the coronavirus pandemic, IACCM reveals the scale of impact on worldwide industry and commerce. In just two weeks, the percentage suffering moderate to severe effects on contract performance has jumped from 37% to 60%. However, as the report reveals, there are considerable variations across geographies and across industries, with some of those who were feeling limited disruption just two weeks ago now at the top of the list.
 
The infographic below summarizes what we discovered - in particular it highlights the potential for this pandemic to have a major effect on underlying sourcing strategies and patterns of world trade.
 
The full report with industry and geographic analysis is being issued to IACCM members later today.
 

Topics: contract /commercial management, procurement, sourcing, IACCM, supply chain, corona virus, Covid-19, global sourcing, supply strategy

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