9 – China over-reliance? Corum says COVID-19 presents opportunity to reconsider supply chain strategy
Ingredient supplier said it would rethink their supply chain strategy in March during the aftermath of the novel coronavirus (COVID-19) outbreak in China.
The novel coronavirus originated from the China’s Hubei province just days leading up to the Lunar New Year festivities in China and other parts of Asia.
Taiwan-based company Corum told CosmeticsDesign-Asia that it felt the effects of the epidemic immediately.
“We’ve observed dramatic slowdown of most business activities in China. The vulnerable consumer confidence has been lingering since the start of US-China trade war last year and is now hitting an even more catastrophic bump with no end in sight,” said Snow Hsieh, international sales manager at Corum.
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