The five ‘silver linings’ to Covid-19
-Dr Troy Coyle, HERA Director Our current state of play has created a massive disruption to business as usual – but are there any positives to come out from the Covid-19 pandemic? Covid-19 has dramatically impacted us all in many different ways. Of course, most discussions have been on the negatives of Covid-19, but here are five silver linings that we think may help build our resilience in the longer term. After all, it is those that take a negative and turn it into a positive that come out of situations for the better! So lets ensure that it is our NZ metals industry that is taking advantage! The significance of domestic manufacturing has come to the fore from Covid-19. We have had significant disruption to global supply chains. The expected market response is likely to be a shortening of supply chains and a strategy of securing supply chains. This undoubtedly favours local manufacturing. For a long time, manufacturing has not received the attention and support that it should have had – in terms of national security of supply chains and Government support. The PM’s specific mention of manufacturing in her announcement on 20 April indicates the sudden attention to manufacturing as a core requirement of Kiwi’s economic and human wellbeing. There is also likely to be a market change toward greater support for local manufacturing in consumer decision-making. Changes in consumer purchasing are also likely to support increased on-line purchasing. Both of these are, in turn, likely to lead to increased warehousing requirements and this will stimulate warehouse developments, with structural steel playing a role in via, for example, portal frame designs. There will necessarily be an increased focus on the upskilling of our workforce. Businesses were already struggling to attract and retain quality staff and many had gone offshore […]