Prepare for Changes in Supply Chain
The coronavirus pandemic has caused many disruptions and may well impact residential construction in the coming weeks or months. Last week, California issued a far-reaching "stay-at-home order" for its 40 million residents. This order is required except for those needing to get food, take care of a relative, or go to an essential job in one of 16 sectors specifically identified. Other states and cities are following suit.
With this most recent development, companies should evaluate their businesses, including their contracts, and be prepared for the possibility that building materials prices may increase as a result of supply chain disruptions.