As the global impact of Coronavirus (also known as COVID-19) remains in the headlines and top of mind, it is important to understand its impact on Genumark, our customers and the promotional products marketplace.
The vast majority of current Genumark orders are running smoothly. Most Genumark orders are filled by drawing on inventory held in a network of warehouses in Canada or the United States. Most of our supply chain partners have assured us that they continue to be in strong inventory positions for the near future as they maximized stock levels in January of 2020. Over the course of the next few months, Genumark and our suppliers will continue to monitor the status of factories manufacturing many promotional products. This is especially an issue for products manufactured in China where many of the factories have been closed since the outbreak of the virus. We have received indication that some of the factories in China are slowly re-opening but there is still too much uncertainty to predict when production in China will return to normal levels. In the meantime, Genumark and our suppliers will continue to look for alternative manufacturing facilities if necessary in order to meet the requirements of our customers.
The health and safety of our customers and employees is always paramount. Fortunately, there is no evidence to suggest that the virus is transmitted from imported products. Factories in affected areas have been closed to protect factory workers from each other as the virus is spread by respiratory droplets and person to person contact.
As always, long-term planning and open communication are valuable tools in assessing all options and developing the best merchandising solutions. Please contact your Genumark Account Manager as soon as possible so there is an opportunity to thoroughly analyze and research your order requirements. If you have any inventory or safety questions requiring further clarification please contact your Account Manager or David Lewenberg, Exec VP & COO.
