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The new normal may be anything but
Linda Popky Business Management, Services & Risk ManagementMaybe we've hit bottom. Three months into the COVID-19 lockdown, it appears that mitigation measures have "flattened the curve." Measures are being taken to reopen the economy on some level in just about every state in America. How far and how fast this will proceed remains to be seen. A common refrain is that we are trying to "get back to normal." There’s only one problem. Those days are gone — if not forever, for a very, very long time.
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How COVID-19 might affect the commercial real estate market
Terri Williams Business Management, Services & Risk ManagementCOVID-19 has negatively impacted every industry, including the commercial real estate sector. Whether or not this industry can bounce back — and to what extent — is dependent on several factors. "COVID-19 will usher in a form of real estate Darwinism where only the financially strong will be able to survive," warns Michael Gevurtz, CEO of Bluebird Lending in Philadelphia.
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Do PepsiCo’s new direct-to-consumer websites show a new future for…
Bambi Majumdar Food & BeveragePepsiCo's new direct-to-consumer sites could mark a significant turning point for the retail grocery industry. The corporation studied the increased demand for products amid the coronavirus pandemic and witnessed shoppers’ frustrations with empty aisles in supermarkets and other grocery stores. In announcing the launch of two new websites, PantryShop.com and Snacks.com, the company said that it wishes to offer shoppers easy and fast access to products in these uncertain times.
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The ABCs of cargo insurance
Gail Short Distribution & WarehousingAs COVID-19 swept through Wuhan earlier this year, China fought to contain the spread of the virus by locking down the city and closing the port of Fuzhou from vessels from several foreign countries, including the United States. Subsequently, exports to the United States fell sharply. But even before the COVID-19 pandemic, shipping freight has always been a venture full of risk. The potential disasters and mishaps include theft, hurricanes, train derailments, truck collisions and containers jettisoned or lost at sea as well as corruption and political unrest in foreign nations.
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Innovation, cloud solutions will drive the future of manufacturing
Bambi Majumdar ManufacturingHistorically a conservative industry, the manufacturing sector must now be more agile and innovate at a higher level in the years to come. The industry has been bombarded with new and unprecedented challenges and has had to pivot in record time during the coronavirus pandemic. There have been supply chain disruptions, factory closures due to COVID-19 cases, and delayed launch schedules. Some oversight processes have been stalled and raise quality issues that need to be solved immediately.
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The home appliances market has shifted thanks to COVID-19
Bambi Majumdar RetailCOVID-19's impact on businesses has been devastating, but for retailers and manufacturers who can scan consumer trends and pivot, things may not be so bad in the days to come. For one, industry reports show that the pandemic is driving the sale of all kinds of small appliances. Most of these purchases are for cooking and cleaning, including products that will allow people to lead a healthy lifestyle, stay motivated, and practice social distancing.
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Infographic: How to survive a layoff or furlough during the COVID-19 pandemic
Brian Wallace Business Management, Services & Risk ManagementBecoming unemployed due to a layoff or furlough can be an unsettling event that can cause a wide range of emotions. Understanding your options and making the right financial decisions during this period of time can help you successfully navigate through this challenging period in your life. This infographic outlines both the prevalence of layoffs as well as how to apply for unemployment benefits and eventually get back to work.
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Pandemic sheds light on weak links in inventory strategies
Gail Short Distribution & WarehousingIn the weeks after COVID-19 began sweeping across the United States, the pandemic succeeded in revealing chinks in the country’s retail and manufacturing supply chains. Many factories and retailers use an inventory system called the just-in-time (JIT) method to save on costs and, in the case of factories, to support lean manufacturing practices. But in light of the recent disruptions to supply chains due to the coronavirus pandemic, some experts say it is time to review current supply chains and inventory processes like JIT.
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COVID-19 reveals the value of domestic manufacturing
Bambi Majumdar ManufacturingThe COVID-19 pandemic has brought attention to the value of domestic manufacturing. One recurring piece of news that we see everywhere, from cable channels to social media, is the urgent need for more PPE and how Americans are stepping in to make these products for our front liners. From individual contributors to major industry leaders, millions are invested in helping to make supplies for the medical community. But many leaders and businesses are looking at other U.S. manufacturing possibilities going forward.
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Employees are a weak link in cybersecurity: How to protect your business
Daniel Markuson Business Management, Services & Risk ManagementEstimates show that 90% of corporate data breaches in the cloud happen due to hacker attacks that target employees, according to a report from Kaspersky Lab. With many of them forced to work remotely during the quarantine, companies are now more vulnerable than ever. Employee negligence is a great threat to business security. However, this particular risk is easy to control. There are many digital tools that can help protect organizations from data breaches.
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