Mnuchin: Task force focused on supply chain issues
Treasury Secretary Steven Mnuchin discusses the impact coronavirus is having on the economy and China’s opening back up.
U.S. supply chains and retail outlets will be put to the test in the coming weeks as Americans stock up on essential supplies amid the worsening coronavirus outbreak.
Continue Reading Below
Grocery chains and pharmacies have struggled to keep items ranging from sanitization products to toilet paper to certain types of food in stock in recent days, raising concerns about their availability in the weeks to come. The trend could worsen as the outbreak requires authorities around the country to shut down businesses, workplaces and schools, according to Philip Palin, an author and expert on supply chains in catastrophe scenarios.
AMAZON TO HIRE 100K WORKERS AMID CORONAVIRUS SHOPPING SPIKE
“Mandatory workplace closures—even those that try to explicitly exclude healthcare and grocery supply chains—will quickly and seriously undermine the capacity of all supply chains, many workers in essential sectors will choose not to work or find it not possible to work,” Palin wrote in a post for Supply Chain Quarterly on Monday. “Consumers will respond to this threat signal by increasing their already unsustainable pull on many products and services. Where consumer demand is highest, the effects will be worst.”
Some grocery store chains have already taken steps to conserve their supplies of key products. Wegmans, Walgreens and Publix are among the companies who have opted to limit store hours, while many other retailers, including Target, have enacted purchase limits to keep products from going out of stock.
TRUMP-BACKED CORONAVIRUS RELIEF PACKAGE WILL PROTECT AMERICAN WORKERS: MNUCHIN
Amazon said Monday it will hire an additional 100,000 workers to bolster its fulfillment and delivery capabilities amid a coronavirus-related shopping surge. Delta Air Lines unveiled a charter operation to fulfill cargo shipments during the crisis.