weeks and we are aiming for a four-fold increase by the third quarter.”
“We are actively engaging with the medical technology industry, governments, the World Health Organization and other health authorities to safeguard the production expansion of materials, components and final products, as well as their shipment between countries. We are calling on all these parties to help us in our endeavor to save lives by accelerating deliveries. We believe in fair allocation of scarce medical equipment to those that need it the most, while we are ramping up to supply other regions in the coming months,” he said.
The company is hiring additional manufacturing employees and shifting current employees to support increased demand immediately, as well as adding manufacturing lines and increasing the number of shifts to 24/7 shifts. It is also engaging with third party contract manufacturers to provide the additional capacity.
The impact of the outbreak on public life and industry in the most affected regions is resulting in a decreased demand for Philips’ consumer portfolio and is affecting its global supply chains. While this is expected to have a negative impact on the financial performance of Philips in the first half of 2020, the company says it has no visibility of the magnitude or duration.