Forbes Tech Council Post: Why It’s Vital For Enterprises To Forecast Well In Advance Of Chinese New Year
Social Mobile Founder & CEO Robert Morcos is a member of the Forbes Technology Council where he contributes thought leadership content. Below is an excerpt from his most recent article titled: “Why It’s Vital For Enterprises To Forecast Well In Advance Of Chinese New Year”
You would have to be living under a rock to be oblivious to the fact that China is responsible for the largest manufacturing output in the world. What many people are unaware of, however, is that China is also responsible for the largest human migration on the planet.
Chinese New Year is celebrated by over a quarter of the world’s population, causing a massive exodus of China’s urban population out of major cities and back to rural villages, where the families of most Chinese city dwellers still reside. Nearly every office, school and factory is shuttered, and the cities experience a comprehensive shutdown that is truly unfathomable to the rest of the world. This cherished festival marks not only the beginning of spring, but also the beginning of often-staggering supply chain problems with the very real potential to bring businesses to a standstill.