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How to Handle Business Challenges During a Lockdown

Right now, governments around the world are trying their best to combat the coronavirus spreading. In order to stop the contagion of this deadly virus, most countries choose lockdown as a solution. Thus, the lockdown decision becomes a business challenge for every company in the country.

Lockdown is indeed capable of limiting the people’s movement by closing access to and out of a country or a region. The lockdown halts public transport, shutting down businesses temporarily, and closing down the shopping center or tourist attractions.

Lockdown policy surely has its pros and cons, especially among business owners. To maintain its business running without having to lose profit, the company will have to deal with a lot of restrictions. The first way that businesses can do this is to use ERP systems. These systems help businesses integrate and automate all of their business processes only with apps.

Here are some business challenges that you will face during a lockdown, and how to overcome it:

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People’s purchasing power decreases

The most noticeable change during the COVID-19 outbreak is the decrease in people’s purchasing power. During this hard time, shop owners prefer to close their store since buying non-essentials is not the customer’s priority. To overcome this business challenge, the first thing to do is to hold a promotion to attract loyal customers. Make it easy for your customers to shop online during the lockdown to maintain social distancing. However, you also need to pay attention to the costs you will use. With a financial management system, you can accurately create financial statements and monitor the sales team’s performance during the promotion period to customers.

The supply of raw materials disrupted

With access being closed off during the lockdown, the raw materials supply will become scarce, especially among manufacturers. If the raw materials need are not met, the production can not run, and the company will start to lose money.

There are two things you can do to overcome this challenge. First, look for suppliers near you. The price will go up for sure, but that’s the best solution so far. Second, don’t forget to redo the reorder point calculation to anticipate the supply shortage.

Employee productivity decreases

One of the main problems of work from home policy is maintaining your employee’s productivity. More often than not, an employee that works from home is less productive compared to when working at the office. It happens due to a lack of surveillance from the managers.

Handling this problem is impossible if you still run your business manually. You need software to maintain employees’ productivity during the lockdown, for example, the work from home software from HashMicro. With software help, you can monitor the task you delegate to your employees. 

Becomes dependant with technology

As we mentioned previously, running a business during work from home without any software will be difficult. Managing employee attendance, communication, and collaboration between divisions will be hard without any software. This situation will make us dependant on software.

The situation is unavoidable, but we recommend you to use affordable software and has complete features. Doing so will reduce your spending on software during the lockdown.

Conclusion

The business challenges during social distancing are harder than ever. As business people, we must think out of the box so that our business can still run and permanent losses. Taking advantage of every resource available and using various software that can support the smooth running of the company during Covid-19 is still rampant. One of them, you can use HashMicro ERP software.

HashMicro provides integrated ERP software to make your business more managed correctly and adequately. Using HashMicro ERP software can improve the management of your business during the pandemic so that your business is not threatened by its finances. Use HashMicro ERP software now to enhance your business performance.

Interest in getting savvy tips for improving your business efficiency?

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