We always live in interesting times – but we don’t always live in as extraordinary times as these! Some of the facts the industry has never faced before include – the price of transporting a box by sea has skyrocketed in just two years; from USD 2,000 to USD 10,000 today. Airfreight prices too have quadrupled. It may come as some consolation that there are players in such market situations who benefit from the ‘trickle-down effect’ from the big winners.
There are other less edifying facts too, however. In its latest study for example, entitled ‘Creating value through investment projects’, Accenture questioned 700 captains of industry. 61% of the operators of factories, mines, refineries, public infrastructure and telecommunications enterprises, and utilities expect new projects to be delayed or cancelled on account of the outbreak of Covid-19. Every high has always reliably been followed by a hangover so far.
So lets gird up our loins and prepare strategically as well as mentally for post-pandemic times.
All power to your elbows!