In a webinar conducted by BW HOTELIER, Dr. Sanjay Goyal, Vice President, Supply Chain Management, Lite Bite Foods; discussed the implications of this virus on the economy, along with shedding light on the ‘new normal’, which people will have to learn to live with.

The thing about this pandemic is that it made people think and reflect on themselves and everyone simultaneously going on. At this point, in order to survive, there are several measures, which may have to be taken, as these times are unprecedented, and everyone is attempting to navigate through them.

Citing his own example, Dr. Goyal discussed how the concept of “work from home” is not necessarily new to several sectors, however, it was an unexplored idea in the hospitality sector. “It took some time, I was lost, but then I created a work station and I finally made some calls and got back to work”. When talking about how he felt about working from home, he said, “I see a lot of positives in working from home, all we need is some ground rules set”. Finding a routine at home, which will hold value even post Covid is a topic Dr. Goyal discussed.

According to Dr. Sanjay Goyal, this ‘new normal’, calls for “self discipline” and “building trust”, as that will strengthen the workings of any firm. Apart from that, “We need to adopt technology and adapt to the new ways of working, this is the new normal”, which will enable people to learn and grow.

When asked about the way forward, he pointed out that people “should learn from and take lead from the international QSR chains”. People today are faced with a twofold challenge, they will need to satisfy the partners, as well as strike a balance in their internal business. This idea was also put across by Dr. Goyal who also talked about how this is a ‘testing time’ for the industry.

Every crisis gives out learning, and Dr. Goyal stated that this pandemic taught him that to “conserve cash” and to “have a contingency plan” is important. The future is dicey, nevertheless, Dr. Sanjay Goyal remains optimistic, and is of the belief that those “who can manage until December or March will do well in 2021 and 2022, as they will bounce back”.