The Procter & Gamble Company (PG), a Dow 30 component, supplies branded consumer packaged goods to consumers across the globe.
Reportedly, Procter & Gamble stated that its current-quarter revenue and profit are expected to be affected due to coronavirus outbreak in China causing disruptions in supply chain and weak demand. Procter & Gamble relies on 387 suppliers in China for the shipment of more than 9,000 different materials, affecting an approx of 17,600 different finished products. The company also reported a decline in in-store traffic in China and other Asian countries.
Chief Financial Officer Jon Moeller stated “Each of these suppliers faces their own challenges in resuming operations. Some of the demand has shifted online, but the supply of delivery operators and labor is limited.”
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