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August 3, 2020

Paragon provides £500k CBILS to Norfolk based plant hire firm

Paragon Bank has provided a £500,000 Coronavirus Business Interruption Loan (CBILS) to Norfolk based plant hire firm, Newall Plant Ltd, continuing its support for UK firms impacted by coronavirus.

The CBILS loan has allowed Newall to maintain cashflow during the pandemic. The recent loan has now enabled a recovery in July to almost 75% of its expected turnover.

Leigh Allison, Chief Executive Officer at Newall Plant Ltd, said: “The recovery of our cash flow has been quicker than anticipated thanks to the support from Paragon. It has enabled us to keep our business in place throughout each phase of the pandemic and is now enabling us to accelerate back to “business as usual”.

“Paragon always deliver a first-class service and are always on hand to support. We usually go through the broker KKD Finance but on this occasion they referred me to Paragon where I dealt with Alan Timms directly, who was friendly and professional throughout the process. My experience with Paragon was second to none and I would not hesitate to recommend them.”

Dale Trenam, Head of Transport – SME Lending, at Paragon said: “We are very pleased that our relationship with Newall has meant that we can support the business through these difficult times and allow it to begin operating again as usual in good time.”

Newall Plant Ltd offers cost-effective plant hire, aggregates, groundworks and muck away services to construction business throughout East Anglia.

July 24, 2020

Home improvement businesses supported through Covid-19

A company that makes bespoke fitted furniture says that a six-figure funding package from Lloyds Bank means it will return from lockdown ready to capitalise on customers’ growing desire to work and socialise at home.

Greater Manchester-based Bluebell Fitted Furniture was founded by directors Mike and Alison Reuben in 1992 and specialises in the design, manufacture and installation of made-to-measure furniture in people’s homes.

It was heading for a record year in 2020, until it was forced to close down its operations, including its showroom in Sale and factory in Altrincham, and furlough its 24 staff.

Alison said: “We were looking to have one of the best years since we started our business 29 years ago but, like just about everyone else in business, we literally had to ‘shut up shop’.”

Now Lloyds Bank has provided Bluebell with a £150,000 loan through the Coronavirus Business Interruption Loan Scheme (CBILS) to support its working capital, though the firm has continued to receive new enquiries from customers during the shutdown.

Bluebell hopes to benefit from a boom in home working, which Mike and Alison anticipate will drive demand from households to have offices installed in their homes.

And they predict more people will want to have bars fitted so they can socialise with friends without having to visit busy pubs and bars.

Mike said: “Lloyds Bank was able to arrange this funding very quickly, which meant we could pay all our suppliers, which we felt was our moral obligation.

“Working from home is going to be the way forward, so we anticipate that after lockdown people will have new ideas of how they would like to improve their home and instead of travelling abroad in 2020 they will be keen to spend their hard-earned money improving their environment.

“When we return to work, we will hold a full day of health and safety training on safe working practices for all our staff and we’ll be writing to all our customers to reassure them about the measures we’ll be taking, including social distancing and wearing protective clothing.”

The award-winning £1.6m turnover business had been on course to achieve revenues of over £2m this year, until the coronavirus outbreak.

Michael Downes, relationship manager at Lloyds Bank, said: “Bluebell is a business with a fantastic reputation for quality and a strong pipeline of work that has been interrupted by the coronavirus lockdown.

“This funding will help it bridge this period of uncertainty so it can return as strong as ever.

“Lloyds Bank is working closely with business customers right across the UK to guide them through this unprecedented challenge and help them access the support that’s available, including through CBILS.”

July 23, 2020

UK manufacturing exports hit record low

UK manufacturing exports fell sharply in Q2 2020, according to the Lloyds Bank International Trade Index. The speed of decline was the fastest since data collection began in 1996, driven by the impact of coronavirus on both international supply chains and falling overseas demand for British goods and services.

The Index hit a new low of 34.6 for new manufacturing exports between April and June 2020, representing a dramatic decline from 46.8 in Q1 2020. The previous historic low of 38.8 was recorded in 2009 amid the global financial crisis. A reading below 50 signals a reduction in new export orders, while a reading above 50 indicates growth.

Of those manufacturers that reported a downturn in overseas orders, the vast majority (93%) attributed it to the impact of coronavirus, blaming the pandemic for shrinking demand, widespread business closures, and delays to export projects.

Basic metals (28.3) and automotive (31.5) exports were hit hardest, reflecting a fall in global demand for manufacturing components and the shutdown of car production in Europe.

Exports of chemicals and plastics (41.1), including pharmaceuticals and healthcare products, fell at a slower rate than other manufacturing goods. This was in part due to forward purchasing by overseas buyers in expectation of delivery delays.

The end of the second quarter of 2020 saw early signs of international demand returning with June showing an increase in appetite for British consumer goods.

In June, UK clothing and textiles (50.7) and other manufacturing (56.7) goods (which includes sports and leisure equipment), furniture, and luxury items such as jewellery manufacturing exports grew.

UK services exports fall to historic lows
Meanwhile, UK services firms saw the sharpest drop in new overseas work since the inception of the Services New Export Business Index in 2014, measuring 29.2 in Q2, down from 42.7 in Q1. The fall was mainly due to international travel restrictions, with business-to-business (28.5), transport and communication (29.8) and technology (29.8) services all severely affected.

Challenging climate for UK exporters

Sharp economic contraction in the majority of UK export markets, including the European Union and North America was also recorded, driving a trade-weighted measure of global demand for British goods and services to a record low of 35.2 in Q2 2020.

China, after posting a reading of 42 in Q1 2020, was the only UK export market to see an increase in Q2 (52.6), as the country’s lockdown measures eased.

Gwynne Master, managing director and global head of trade for Lloyds Bank Global Transaction Banking, said: “The results demonstrate the full impact of the pandemic as swathes of the global trade markets shut down amid efforts to help contain the spread of the virus.

“Export measures hit an all-time low in Q2 although we see small signs of recovery as early as May and into June. While it is too early to talk about the trajectory of recovery, it is encouraging to see enhanced external demand, signs that China’s economy is stabilising, and some UK consumer goods export growth in June.

“Government schemes and finance options continue to be made readily available, which will help UK exporters continue to trade, to position for a return to normality to international trade, and to prepare now for potential future disruption.”

 

July 21, 2020

Arbuthnot Commercial ABL provides £2m facility

Arbuthnot Commercial ABL is pleased to announce the recent completion of a £2m financing for Climatec Windows Limited and Alu-Tec (UK) Limited.

The facility will be used to support the group’s day-to-day management team in the acquisition of a material equity stake alongside its existing shareholder directors, Steve Barker and Phil Bates. This has meant that the group has been able to strengthen its board, generate additional liquidity to support its development and provide its wider management team with a long-term equity incentive.

The transaction was structured as a shareholder-financed management buy-out and driven by a tight completion timetable.

Based in the South East, Climatec is a successful manufacturer and supplier of high-quality windows and doors for trade and commercial customers across the UK. The business was founded in 1993, initially operating from a 2,200-ft² factory unit. Since then, Climatec has grown quickly, developing complementary products and investing in state-of-the-art machinery.

Alu-Tec (UK) Limited was established in 2012 to diversify in to the aluminium sector of the window industry in which it manufactures and supplies high performing aluminium windows and doors catering for all customers trade, commercial and contract needs.

Today, the group has over 150 employees on the payroll and operates from over 10 factory units totalling 50,000 ft², manufacturing both uPVC and aluminium systems and averaging well over a thousand products a week.

Steve Muskett, finance director, said: “Arbuthnot Commercial ABL has succeeded in structuring a deal that has met the objectives of everyone involved, with no dilution of equity. Arbuthnot’s flexibility, certainty of delivery and speed of execution were our key decision-making criteria and their team rose to the challenge. They were helpful and knowledgeable and demonstrated their commitment to getting the deal done. This is a massive opportunity for the management team to help drive the future direction of the business, bringing new ideas to the table to make it even more successful in the years to come.”

Andrew Rutherford, commercial director at Arbuthnot Commercial ABL, said: “Climatec and Alu-Tec (UK) are strong regional businesses, operating in a sector which we know well. In common with the majority of our financings, this opportunity was brought about by the combination of a complex shareholder event and a requirement to transact at pace. Our facility has enabled the group to put in place a long-term equity incentive for the next-level management team, whilst the existing shareholder directors have also been able to demonstrate their long-term commitment to the business while realising some value from their shareholdings. The additional liquidity now in place will enable the group to capitalise on growth opportunities throughout the second half of 2020 and beyond.”

July 20, 2020

iES secures £500k funding package following merger

Intelligent Environmental Services (iES), a leading North West environmental consultant, has secured a £500k invoice finance facility from Advantedge as it looks to build on its recent merger with Winsulate.

Based in Bolton, iES provides expert hazardous material consultancy to a broad range of commercial clients, specialising in asbestos, contaminated land and wider environmental contaminants such as lead, mould and infectious agents. Founded in June 2019 by managing director Danny Jones, iES has seen a surge in demand for its Covid-19 contamination services, as businesses look to minimise the impact of the global pandemic.

Last month, the firm completed a merger with Manchester-headquartered Winsulate, a national provider of asbestos and environmental remediation services. Founded in the 1970s, Winsulate has become a significant environmental risk specialist, with a history of working in some of the UK’s most complex business environments.

The merger has provided iES with considerable industry knowledge and expertise, and enables the enlarged firm to provide a bespoke end to end service of hazardous material management for clients across a range of industries and sectors.

The funding, provided by the Manchester office of national invoice finance specialist Advantedge, will support the business as it looks to increase its staff numbers, with plans to double headcount to 50 in the next 12 months. The funding will also be used to expand the firm’s marketing capabilities and drive lead generation.

Danny Jones, managing director at iES, said: “Securing this funding is a significant step in supporting the business, both in the immediate term and when looking to expand in the future. Following our merger with Winsulate, we are now in a great position to provide a truly tailored service across the hazardous materials market, and can add real value to clients.

“Darren and the team at Advantedge were great to work with on this – they really understood the needs of the business. As a service provider, we have often found it a greater challenge to access this type of funding, but the Advantedge team took the time to understand these complexities, and have put in place a deal that works for all parties.”

Darren Cottenden, director at Advantedge, said: “At Advantedge, our focus has always been on supporting local businesses, with sales teams on the ground across the UK. I’m therefore extremely pleased to be able to complete this transaction, and support iES as the business looks to expand and create local jobs in a difficult time for British business. We wish Danny and the team all the success for the future.”

July 17, 2020

Arbuthnot Commercial ABL provides £1.2m CBILS loan for GJB Group

Arbuthnot Commercial Asset Based Lending (ABL) has supported window and door manufacturer, GJB Group with a £1.2m Coronavirus Business Interruption Loan (CBILS). This is in addition to the £5m all-asset funding transaction that was completed for the Group in November 2019.

Arbuthnot Commercial ABL was able to deliver the CBILS loan in just three days following its accreditation by the British Business Bank. Boosted by the additional funding, GJB Group has come out of the blocks trading strongly with an imminent return to full production.

The business, a fabricator of window and door systems to trade customers and installations for new build customers, was established 25 years ago. It operates from factories in Essex and Stoke and has a trade counter in Reading, having been acquired in 2017 by industry veteran Roy Frost the group CEO.

Sean McLaughlin, group chairman of GJB and a non-executive director or board advisor of a number of other diverse enterprises, said: “On 23rd of March, we made the incredibly difficult decision to implement a hard stop to all of our operations. This was clearly the right thing to do but it meant that, like so many others, we faced a hugely uncertain future and watched our working capital position slowly erode from the cessation of trading. I never envisaged the situation where I would call the main funder of the business to say that we have decided to close the doors for an indefinite period. From the outset, the approach from everyone at Arbuthnot was very supportive and having direct access to the decision-makers has been vital to us as a business, particularly during this hugely challenging time.

By contrast the other lenders that we approached were less helpful and constrained by institutional rulebooks or a desire to prioritise their other customers. The Arbuthnot accreditation for CBILS came just at the right time as we were losing all confidence in other lenders responsiveness. To their credit, Arbuthnot delivered the loan in a matter of days, giving us the vital buffer that we needed to bridge our working capital gap as we start to ramp up production.”

Andrew Rutherford, commercial director of Arbuthnot Commercial ABL, said: “We are delighted to extend our support to GJB Group during this exceptionally difficult time. As always, the key here was to deliver the level of funding required at pace giving the client comfort and confidence. Their experienced management team took prompt and decisive action in responding to the impact of the pandemic with a full operational shut-down and restart, a truly impressive feat. The new loan will help the business to power up and trade out of this challenging situation with resolve and resilience.”

July 15, 2020

Paragon provides £135,500 CBILS funding to Powys-based manufacturer

The CBILS loan has enabled Hadley Hargreaves to recover from cash flow issues and losses as a result of the pandemic. It has also provided funds to purchase additional machinery, expanding the production capabilities of the business.

Paragon has supported the Presteigne-based business since 2016 through invoice and asset finance, which enabled Hadley Hargreaves to become manufacturers of their own blow moulding, rather than subcontracting the process and led to the business approaching Paragon for further support.

Hadley Hargreaves manufactures windscreen wash and wipe systems for low volume (less than 30,000 vehicles per year) vehicle manufacturers, including JCB and Lotus. With over 25 years’ experience in moulding, the business produces windscreen washer bottles as its core business. It is now diversifying into the provision of blow moulding services to non-automotive companies and the development of bio-degradable blow moulded products.

Mike Jones, director at Hadley Hargreaves, said: “This funding has supported the business through a challenging period, but more positively to invest in new equipment to grow the company going forward.”

“We have a long-standing relationship with Paragon. Paragon offers much more flexibility than high street banks. The team really gets to know your business and this allows them to provide guidance and lending based on knowledge, rather than on a computer-generated figure.”

To date Paragon has lent over £7m to UK SMEs through CBILS, with a number of deals in the pipeline due to complete.

Adrian Taylor, head of invoice finance at Paragon, said: “We are extremely glad that we can support our customers through challenges presented by the pandemic. Our strong relationship with Hadley Hargreaves has meant that we have been able to provide ongoing support, tailored to their needs, both prior to the coronavirus pandemic and during.”

July 9, 2020

Engineering group to power growth with over £1m funding

First Components Ltd specialise in the design and manufacture of precision milled parts, wire products, metal pressings, laser cutting and metal finishing design. The business has a rich portfolio of expertise and counts customers in the Automotive, Aerospace and Electronics industries, among others.

Savigny Oddie Ltd is responsible for two respected industry brands – Oddie Fasteners and Oddie Manufacturing. The Oddie Fastener is a quarter turn fastening for securing panels or components that have to be quickly removed for servicing or replacement. Oddie Manufacturing, meanwhile, provides bespoke engineering and fabrication solutions. The business possesses an advanced manufacturing infrastructure which allows it to accommodate a broad set of turnkey projects.

Datum Engineering has a well-established reputation in the region for providing subcontracted engineering services to local businesses for over 20 years, with expertise in various sectors including automotive, medical and general engineering.

The funding line from BFS underpinned an acquisition of the business by Valery Beroskin, a local entrepreneur and investor in multinational engineering and manufacturing. BFS’s corporate and leasing teams worked with Mr Beroskin and the First Components Group team and have structured a facility that will effectively support plans to grow the group’s UK revenues. The invoice discounting will provide the business with ongoing working capital, the asset finance against plant and machinery.

Valery Beroskin, managing director, First Components Group. commented: “We wanted to work with a funding partner that recognised our ambitions and was on board with our plans to grow First Components Group.

“BFS has been an extremely supportive partner throughout the process and acted quickly to offer a deal structure that combined both invoice finance and asset finance. The facility will help us to maintain our cashflow and provide us with additional flexibility to purchase equipment and manage invoices from customers.”

David McIntyre, corporate manager at Bibby Financial Services, said: “From an early stage we built a strong working relationship with Valery and the First Components Group management team and we developed a sound understanding of the needs of the business. This has allowed us to swiftly structure a facility to support the business’s working capital.

“The partnership is a testament to BFS’s appetite to fund ambitious SMEs like First Components Group, and we are excited to continue working with Valery and the team.”

Graham Ingham, business development manager, Bibby Leasing, added: “We worked very closely with our invoice finance team and the vendor throughout the process. We are proud to have provided an asset facility that was a key component of Valery’s successful acquisition of the business and we welcome another new client to BFS.”

July 7, 2020

Manufacturing industry optimistic for recovery from Covid-19

A new survey from SteelScout has found that more than 60% of professionals in the manufacturing industry expect the sector to recover from Covid-19 and return to business as usual by mid-2021. However, they highlighted issues in the wider supply chain which might impact the recovery, with almost 30% unable to access the materials they need and 36% adding that it is taking longer just to receive a ‘winning quote’.

One key driver behind the confidence in recovery is that 62% of respondents reported having orders waiting to be fulfilled once lockdown rules have eased. The orders on hold within SteelScout’s survey base of 100 people exceeded £17m in value.

In order to fully understand the impact of lockdown on manufacturers and their supply chains, SteelScout – a multi-supplier procurement platform that connects buyers with a UK network of suppliers – sought the opinions of more than 100 manufacturing professionals to gain insight into the current state of affairs.

The survey demonstrated that it has been a tough few months for the sector, with more than half of respondents reporting that they have been working at a reduced capacity or with some staff furloughed. More than 10% of respondents reported whole companies being mothballed and all staff furloughed.

Almost 80% of those surveyed reported that they have adopted new working practices to deal with rules and guidelines around lockdown in the UK. The most common change was remote working, which was used by 49% of those surveyed. Video conferencing, flexible hours and instant messaging have also helped to navigate the impact of Covid-19. To address supply concerns, almost a third had also increased their use of digital platforms in order to secure the materials they need. 22% of businesses pivoted to produce items from masks and screens to medical device parts to help the national effort. Around half of those companies added that they intend to incorporate the products and services into their offer on a long-term basis.

To solve the identified supply issues, greater visibility and more alternatives in the supplier network were the most called for improvements, whilst having an easier method to collect and compare quotes was also selected by many in an effort to reduce basic admin costs and save time.

Matt Yeates, managing director of SteelScout, said: “The innovation and determination shown by the manufacturing industry to continue operating through lockdown also reveals a clear shift towards the adoption of new technology to enable that continuity.”

“Many businesses may never return to the previous way of working & I believe a key part of the recovery will come from locking in lessons learned during the pandemic. Eradicating inefficiency sounds simple but often trying new approaches requires a bold step to really understand what you can achieve. Our platforms continue to offer a smarter way to quickly source the best deal for many manufacturers using steel and other metals.”

July 6, 2020

Manufacturers are ready to adopt new ways of working during lockdown

The coronavirus has brought significant changes to the way we work. And this change is expected to continue at least, for the foreseeable future. These changes have not only been felt here in the UK but around the world. As consumers watched a number of manufacturing companies close down one after the other, there was genuine fear and concern about how the supply chain, especially of essential products, including food, would hold up. 

Indeed, most companies during this time may be losing the fight to the grey market, where their products might be sold for way less without their consent. But one of the silver linings in this situation is the innovative ways by which several companies are introducing digital solutions into their ways of work. But one would think, digitalisation will be effective in, say, a service-based company. But how about the manufacturing industries? How can digitalisation save them – or at least, give them some sort of reprieve? And what other alternatives are available to them? 

Digital platforms, tools and digital payment technology have helped many companies as most of them split up to work remotely. This help has mainly been in the area of information dissemination and access at any location, on any device. But what kind of impact has this ‘new normal’ had on manufactures? What does it mean for their ability to keep their supply chain running? 

The latest guidance from the government with respect to the coronavirus and gradual easing of restrictions and lockdown rules have given businesses something to muse over concerning what the best ways to return to business are. One thing that remains for sure is the fact that doing business is no longer going to be like it used to be for the next foreseeable months. 

During the lockdown, manufacturing companies have had to brainstorm on the best ways to comply with the latest regulations from the government. The result? Many businesses have adopted new ways to work during this pandemic.

According to an online report across the manufacturing sector, most of the new approaches that companies are taking were mostly enabled by digitalisation – from the use of digital procurement platforms to remote video conferencing. Thus, as the majority of companies across the UK cautiously return to work, there is a conscious attempt to return to working conditions that will offer productivity levels close to the pre-lockdown period. 

But how will manufacturing companies be able to navigate this period to keep the supply chain going, especially the supply of essential and key materials?

Despite the fact that most manufacturing companies are finding innovative ways to navigate this uncertain period, the supply of some key materials has proven a rather difficult task. This is evident in the fact that a majority of the respondents interviewed in the report mentioned earlier admitted that although they are trying to resume or continue manufacturing, their regular suppliers have either closed temporarily or shut down completely. 

But the problem does not end there, even the few suppliers still available are not able to make supplies available on time as they also try to adjust their mode of operation to suit the government directives. This, coupled with the fact that there has been a lack of visibility, prevented a lot of manufacturing companies from operating efficiently and making plans even for the near future.

Most manufacturing companies admit that it has been much more difficult to secure all the important materials they need during the lockdown period. The rest of them lament about the fact that obtaining a ‘winning quote’ from the suppliers of the needed materials is taking even longer. Thus, keeping the supply chain flowing was in serious danger of collapsing. 

In order to create a more resilient supply chain long-term, there has been the need to rethink how the supply chain is operated. Most manufacturing companies and experts have identified the fact that one of the most effective ways of creating a resilient supply chain is by creating greater visibility. This is with respect to fulfilling orders that come in during a post-pandemic period. 

Another very effective factor, according to most manufacturers, is creating a more diverse supply-base or network. This should be coupled with a time-saving technology that will help to increase efficiency. 

In short, the way forward for manufacturing comes with a change in the way business is done – a new normal that will come with a digital mindset.

Fortunately, digitalisation has already taken a significant role in other sectors of business. Most companies have taken advantage of digital tools and platforms to reach out to a wider range of target audiences while ensuring that teams engaged in remote work remain connected, and thus, productive. 

Embracing the digital transformation, however, has not been done uniformly across the manufacturing sector. While some companies seem to be getting the hang of it, other companies still consider it a work in progress that will require enough time. For example, from the report, the metal distribution sector is still at the beginning stages of incorporating digitalisation into their modus operandi. 

One problem for this lack of uniformity in implementing digitalisation is the fact that some companies require a longer period of time to evolve. However, there has been an increase in the number of distributing companies that are moving towards the e-commerce platforms and the buyers changing their procurement process.

Thus, digitalisation seems to be a major way forward as manufacturing companies look forward to a period of recovery. The important benefits of digitalisation cannot (and have not) been underestimated by key players in the manufacturing sector. Let’s take a look at some of these key benefits.

The digitalisation helps to ensure that access to suppliers and supply platforms is no longer constrained by time. As most supply companies also move online, this is leading to e-commerce platforms offering 24/7 around-the-clock accessibility. This means that businesses are no longer limited by the usual five to nine working period. This is especially beneficial for companies working remotely with split teams as the manufacturing industry in the UK gradually transitions towards new ways of doing business. 

Digitalisation also makes it less challenging for a large volume of suppliers and buyers to be able to connect, automate and transact at least the basic tasks when it comes to administration. This means that not only will manufacturers be exposed to a wider number of suppliers, but they will also be able to undertake procurements in very little time.

Digital manufacturing also makes it possible for manufacturers to work more efficiently. By automating the process, manufacturers are able to identify the bottlenecks and weaknesses in the chain of production. Plus, they will also be able to pretest new ideas before they are implemented. This will be both time-saving and cost-effective. Also, employees will be able to use their time more effectively.

Innovation also brings a bit more flexibility to the workplace. The new technologies, such as data connectivity and 3D modelling systems, can help companies make better improvements.

In general, by digitising the manufacturing process including the supply chain, manufacturing companies will be able to create an easily-accessible database of the different lists of suppliers as well as innovative designs that can be shared with anyone in the industry. This will also help promote the sharing of specialist knowledge.

There are quite many digital platforms available to assist and support manufacturers as they gradually reopen their businesses in this COVID-19 period. There are both free and paid digital platforms available to choose from. Indeed, some manufacturing companies are planning on creating their own digital platforms specially tailored to their businesses. 

So, as manufacturing businesses return to restart operations, most of them are prepared for what is to become the new normal of doing business during and even after COVID-19. 

However, there are still a number of important but complex factors to manage. These factors include observing social distancing protocols, as well as ensuring that there is productivity even while going through a transition.

Thus it is important not to further complicate matters by providing a means of getting access to the right manufacturing materials at the right time. Plus, companies will have to ensure that they get the materials at the right price. This is what makes digitalisation a bold and important step to take. 

Taking the necessary steps to promote digitalisation in the manufacturing sector, and encouraging every business in the sector to get on board, is one of the best (if not the best) ways to ensure that the supply chain is supported even as businesses practice social distancing protocols. However, there is one more important area worth a great deal of consideration, even as manufacturers incorporate digitalisation. And this has to do with ensuring that there is a stable supply chain.

Aside from the wider option of suppliers that a digital platform will provide, manufacturers should also evaluate the structure of supply contracts. Most of these supply contracts are accompanied by a force majeure. And this leads to or allows for a disruption in the supply chain.  

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