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Industry (manufacturing), a specific branch of economic activity, typically in factories with machinery. The wider industrial sector of an economy, including manufacturing and production of other intermediate or final goods. The general characteristics and production methods common to an industrial society. (Wikipedia)

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Issues Related to Inputs and Fulfilling Contracts

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Issues Related to Inputs and Fulfilling Contracts

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Shortage of inputs and difficulties in meeting contracts are the second significant challenge.

Global value chain disruptions result from border closures and domestic movement restrictions.

Regardless of exporting status, firms are experiencing similar input shortages, suggesting reliance on both foreign and domestic sources for raw materials.

(UNIDO , March 2021)

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An industry is a prime component of any country's financial setup, as it produces sellable goods and services, which keeps the economy running. People find employment in companies that may fall under one or more of these industries. (Indeed, July 2023)

"The role of industries is pivotal in driving economic growth and job creation (Smith & Johnson, 2019)."

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Importance of being a good planner and staying informed about the market and industry.(Hamid, A. B. B. A. (2021, April 28)

Suggestions for cost reduction, including downsizing and cost minimization in various aspects.(Hamid, A. B. B. A. (2021, April 28)

Strategies to maintain customer demand, improve product quality, and develop new products.(Hamid, A. B. B. A. (2021, April 28)

Emphasis on the importance of accurate and timely information.(Hamid, A. B. B. A. (2021, April 28)

Organizations are advised to rebuild operations and accelerate the adoption of digital solutions to modernize and optimize various aspects of their manufacturing processes.

Manufacturers see the need to make their supply chains more resilient to prevent future problems (Alicke et al., 2020).

Flexible work arrangements for working parents are being explored (Ernst and Young, 2020).

Manufacturers are reconsidering their models of global trade, especially due to disruptions seen during the pandemic (Condon et al., 2020).

Policymakers may need to enact initiatives to promote onshoring (National Association of Manufacturers, 2020e).

Manufacturers are reconsidering their models of global trade, especially due to disruptions seen during the pandemic (Condon et al., 2020).

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Impact assessment of COVID-19 on malaysia’s- industrial sector - UNIDO. (n.d.). https://www.unido.org/sites/default/files/files/2021-03/UNIDO%20COVID19%20Assessment_Malaysia_FINAL.pdf

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Hamid, A. B. B. A. (2021, April 28). Assessment of the coronavirus pandemic (COVID-19) impact on supply chain and SME manufacturing firms’ performance in Malaysia. Abdul Hamid | International Journal of Supply Chain Management. https://ojs.excelingtech.co.uk/index.php/IJSCM/article/view/5838/3015

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Elmualim, A., Mostafa, S., Chileshe, N., & Rameezdeen, R. (2018). Construction and the circular economy: smart and industrialised prefabrication. In Unmaking waste in production and consumption: towards the circular economy (pp. 323-336). Emerald Publishing Limited.

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Karmaker, C. L., Bari, A. M., Anam, M., Ahmed, T., Ali, S. M., De Jesus Pacheco, D. A., & Moktadir, M. (2023, April 1). Industry 5.0 challenges for post-pandemic supply chain sustainability in an emerging economy. International Journal of Production Economics; Elsevier BV. https://doi.org/10.1016/j.ijpe.2023.108806

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Industry. (2023, October 4). Wikipedia. https://en.wikipedia.org/wiki/Industry#:~:text=Industry%20(manufacturing)%2C%20a%20specific,common%20to%20an%20industrial%20society

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Issues Related to Reduced Demand and Cashflow

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Issues Related to Reduced Demand and Cashflow

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Reduction in demand is the primary challenge for firms.

Decreased orders have caused a drop in revenues.

Cashflow shortages are a significant problem.

Many firms are cutting operational costs to address cashflow issues.

Concerns about wage payments, social security contributions, and loan repayments to commercial banks add to their challenges.

Obtaining additional loans to mitigate cashflow shortages is difficult, exacerbating their situation.

(UNIDO , March 2021)

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This Padlet discusses about how to Enhance The Role of Industries and its relevance in the context of global supply chain disruptions caused by the COVID-19 pandemic, with a focus on emerging economies. It emphasizes the need for sustainable, human-centric, and resilient supply chains and highlights the role of industries in achieving this. This padlet also underscores the issues faced by developing post-pandemic economies and the importance of research in this area (Karmaker et al., 2021).

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The COVID-19 pandemic inflicted much uncertainty on emerging economies, causing numerous challenges and severe disruption to supply chain (SC) networks. This crisis clarified the fact that existing SC strategies are inadequate for coping with risks of disruption. In order to improve the sustainability and resilience of modern SCs, decision-makers of emerging economies should reconfigure their traditional manufacturing SCs by adopting I5.0 initiatives, as their SCs were worse affected than those in developed (Karmaker et al., 2021).

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In conclusion, post-pandemic scenarios have highlighted the importance of enhancing the role of industries in our global economy. Industries play a pivotal role in economic recovery and growth by creating jobs, driving technological innovation, and contributing to the overall well-being of society. As we navigate the challenges and opportunities ahead, it is clear that a renewed focus on industries is essential for building resilience and ensuring a prosperous future for all.

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Organizations are advised to rebuild operations and accelerate the adoption of digital solutions to modernize and optimize various aspects of their manufacturing processes.

Manufacturers see the need to make their supply chains more resilient to prevent future problems (Alicke et al., 2020).

Flexible work arrangements for working parents are being explored (Ernst and Young, 2020).

Manufacturers are reconsidering their models of global trade, especially due to disruptions seen during the pandemic (Condon et al., 2020).