READING LIST 2

In this qualitative research study, the researchers examined the impacts of the pandemic on the
food and beverage industry and identified some approaches to mitigate the short to long term
effects. They utilized Bangladesh as the geographical location for the study. Here are some of my
takeaways from the study:

● The importance of using the FEFO method to diminish the threat of product expiry
and minimize casualties in companies’ ROI.
○ I actually only figured out the term FEFO in the previous sessions in DSIOPMA
class. This kind of strategy addresses one of the short-term impacts of the
pandemic which is the product expiry. I learned that by utilizing the First Expiry
First Out method, having an online ordering platform as well as a quick delivery
system, the products will be delivered to their customers efficiently while
reducing the number of soon-to-be-expired products that will not be sold. This
makes it likely to decrease business overheads from wastage and the extra work
and expense associated with returns.

● The importance of using the online platform to complement conventional

retail-based sales abilities.
○ Another takeaway is the importance of having an online platform to reach their
customers and sell their products given the limitations by the pandemic which is
social distancing and staying at home as the pandemic has sped up the pace of
behavioral changes on how people live their lives. Though, operating the
business in both online and offline ways is important, adapting to change by
building an online platform will help these firms thrive and become resilient. So
by incorporating the advancement of technology and data will help businesses in
the long run by restructuring supply chains and boosting online sales.

● The importance of incentives to help the food and beverage industry in boosting
national GDP.
○ My last takeaway is about how the depletion of the industry’s GDP surfaced as
one of the medium to long-term impacts of the pandemic. Since there has been a
GDP drop in every country due to the pandemic, one way to do this is to focus
on the food and beverages industry as this is one of the significant and
fast-growing industries. What the government can do is give incentives and
support to the industry. Meanwhile, what managers of the firms can do is also
provide incentives like providing more shifts, office hours extension, and the
ability to work on weekends and holidays for the employees to spark motivation
 and increase the productivity of their company as a whole. Doing this will
improve the industry's contribution to boost the GDP of a country and not just in
Bangladesh.

Unfortunately, the challenges that the industry is facing will continue for a long time in the
future. That is why several businesses need to adapt to changes and create strategies just like
what I previously mentioned in order to thrive.