The coronavirus (COVID-19) pandemic is causing widespread concern and economic hardship for consumers, businesses and communities across the globe. Manufacturers are facing unique challenges caused by the crisis, and forest, paper and packaging producers are no exception.
Pulled between soaring demands for some products (like toilet paper and other hygienic products) and an uncertain outlook for others (such as building materials), companies in the sector must also navigate the challenge of simultaneously safeguarding employee well-being, managing potentially disrupted supply chains, and evaluating tumultuous economic and capital markets conditions.
Typical contingency plans help confirm operational effectiveness following events like natural disasters, cyber incidents and power outages, among others. They don’t generally take into account the widespread quarantines, extended school closures and travel restrictions that are being instituted in countries around the world to help stem the spread of the virus. With some manufacturers shutting down production or shifting to new products that are essential to fight the pandemic, forest, paper and packaging companies need to remain focused and nimble to navigate this crisis.
The pandemic raises a number of unique challenges. In PwC’s latest COVID-19 CFO Pulse Survey, finance leaders in the United States and Mexico shared their top concerns.
The situation is changing quickly with widespread effects. That’s why we’ve prepared some general guidance on COVID-19: What US business leaders should know, covering the key areas of crisis management and response, workforce, operations, and supply chain, finance and liquidity, tax and trade, and strategy and brands.
Read the full article from PwC here.