Customer Lifetime Value

 

Customer lifetime value (CLV also CLTV) is a metric that shows the total revenue you expect to receive from an individual customer over the life of their relationship with your business. 

There are often other options for naming this metric: lifetime consumer value (LCV), or lifetime value (LTV). The term was first used in the book by R. Shaw and M. Stone Database Marketing in 1988.

This performance indicator should be tracked so that the company can understand where to go next. A growing CLV means that customers are happy and will give you more money during the entire interaction, hence the company is doing well. On the other hand, a lower LTV means that the company gets less money from every customer it attracts, and it needs to fix something quickly.

Customer Lifetime Value is quite difficult to determine precisely since the calculation involves predicting the future, and this is a very difficult area not only in business but also in the lives of ordinary people. There are a large number of formulas for calculating CLV, and you can apply them depending on the specifics of your business and your goals.

CLV is also affected by two indicators: Churn rate and Brand loyalty. Churn rate shows the percentage of customers who abandoned your product or service during a certain period. Brand loyalty describes how committed your customers are to your brand. Building brand loyalty can help retain customers and reduce churn.

Here are some possible options of calculations of Customer Lifetime Value

If margins and retention rates are constant, you can use the following formula to calculate CLV:

The Customer Lifetime Value model has only three parameters: constant margin (the difference between price and net cost over a period), constant retention rates over a period (the company’s ability to maintain a long-term relationship with the customer), and the discount rate. The model assumes that if the client is not held, it is lost forever.

ACL (Average Customer Lifespan) =Sum of Customer Lifespans / Number of Customer

CV (Customer Value) = Average Purchase Value / Average Purchase Frequency Rate

The Average Purchase Value (APV) metric is

APV=Total Revenue/Number of Orders

The Average Purchase Frequency Rate (APFR) metric is:

APFR = Number of Purchases/ Number of Customer

A simpler calculation option for Customer Lifetime Value

ARPU is the average revenue per user. ARPU is considered to be for a specific period of time. You can calculate it using the following formula:

ARPU = Revenue / Number of users

To calculate the Churn Rate, you can use the formula:

Churn Rate = С1/С2 x 100%

С1- customers who rejected your product/service over a certain period of time; С2 – customers who have become users of your product/service over a certain period of time

The higher your customer churn rate, the lower your final Customer Lifetime Value will be.

Despite the large number of formulas for calculating CLV, this indicator is very important for the business. Thanks to it, you will be able to analyze the financial value of your client. This data will help you invest money in the right segment of consumers, as well as optimize your customer retention efforts. All of this will allow you to increase your profit.

To understand the importance of CLV metric I suggest you reading Customers for Life book by Carl Sewell and Paul Brown.

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Kotter's 8-Step Change Model

 

By the Mind Tools Content Team

"Change is the only constant."– Heraclitus, Greek philosopher

What was true more than 2,000 years ago is just as true today. We live in a world where "business as usual" is change. New initiatives, project-based working, technology improvements, staying ahead of the competition – these things come together to drive ongoing changes to the way we work.

Whether you're considering a small change to one or two processes, or a system wide change to an organization, it's common to feel uneasy and intimidated by the scale of the challenge.

You know that the change needs to happen, but you don't really know how to go about delivering it. Where do you start? Whom do you involve? How do you see it through to the end?

There are many theories about how to "do" change. Many originate with leadership and change management guru, John Kotter. A professor at Harvard Business School and world-renowned change expert, Kotter introduced his eight-step change process in his 1995 book, "Leading Change"

In this article, video and infographic, we look at his eight steps for leading change, below.

Step 1: Create Urgency

For change to happen, it helps if the whole company really wants it. Develop a sense of urgency around the need for change. This may help you spark the initial motivation to get things moving.

This isn't simply a matter of showing people poor sales statistics or talking about increased competition. Open an honest and convincing dialog about what's happening in the marketplace and with your competition. If many people start talking about the change you propose, the urgency can build and feed on itself.

What you can do:

• Identify potential threats and develop scenariosshowing what could happen in the future.
• Examine opportunitiesthat should be, or could be, exploited.
• Start honest discussions, and give dynamic and convincing reasons to get people talking and thinking.
• Request support from customers, outside stakeholders and industry people to strengthen your argument.

Note:

Kotter suggests that for change to be successful, 75 percent of a company's management needs to "buy into" the change. In other words, you have to work really hard on Step 1, and spend significant time and energy building urgency, before moving onto the next steps. Don't panic and jump in too fast because you don't want to risk further short-term losses – if you act without proper preparation, you could be in for a very bumpy ride.

Step 2: Form a Powerful Coalition

Convince people that change is necessary. This often takes strong leadership and visible support from key people within your organization. Managing change isn't enough – you have to lead it.

You can find effective change leaders throughout your organization – they don't necessarily follow the traditional company hierarchy. To lead change, you need to bring together a coalition, or team, of influential people whose power comes from a variety of sources, including job title, status, expertise, and political importance.

Once formed, your "change coalition" needs to work as a team, continuing to build urgency and momentum around the need for change.

What you can do:

• Identify the true leaders in your organization, as well as your key stakeholders
• Ask for an emotional commitment from these key people.
• Work on team building within your change coalition.
• Check your team for weak areas, and ensure that you have a good mix of people from different departments and different levels within your company.

Step 3: Create a Vision for Change

When you first start thinking about change, there will probably be many great ideas and solutions floating around. Link these concepts to an overall vision that people can grasp easily and remember.

A clear vision can help everyone understand why you're asking them to do something. When people see for themselves what you're trying to achieve, then the directives they're given tend to make more sense.

What you can do:

• Determine the valuesthat are central to the change.
• Develop a short summary (one or two sentences) that captures what you "see" as the future of your organization.
• Create a strategyto execute that vision.
• Ensure that your change coalition can describe the vision in five minutes or less.
• Practice your "vision speech" often.

Step 4: Communicate the Vision

What you do with your vision after you create it will determine your success. Your message will probably have strong competition from other day-to-day communications within the company, so you need to communicateit frequently and powerfully, and embed it within everything that you do.

Don't just call special meetings to communicate your vision. Instead, talk about it every chance you get. Use the vision daily to make decisions and solve problems. When you keep it fresh on everyone's minds, they'll remember it and respond to it.

It's also important to "walk the talk." What you do is far more important – and believable – than what you say. Demonstrate the kind of behavior that you want from others.

What you can do:

• Talk often about your change vision.
• Address peoples' concerns and anxieties, openly and honestly.
• Apply your vision to all aspects of operations – from training to performance reviews. Tie everything back to the vision.
• Lead by example

Step 5: Remove Obstacles

If you follow these steps and reach this point in the change process, you've been talking about your vision and building buy-in from all levels of the organization. Hopefully, your staff wants to get busy and achieve the benefits that you've been promoting.

But is anyone resisting the change? And are there processes or structures that are getting in its way?

Put in place the structure for change, and continually check for barriers to it. Removing obstacles can empower the people you need to execute your vision, and it can help the change move forward.

What you can do:

• Identify, or hire, change leaders whose main roles are to deliver the change.
• Look at your organizational structure, job descriptions, and performance and compensation systems to ensure they're in line with your vision.
• Recognize and reward people for making change happen.
• Identify people who are resisting the change, and help them see what's needed.
• Take action to quickly remove barriers (human or otherwise).

Step 6: Create Short-Term Wins

Nothing motivates more than success. Give your company a taste of victory early in the change process. Within a short time frame (this could be a month or a year, depending on the type of change), you'll want to have some "quick wins that your staff can see. Without this, critics and negative thinkers might hurt your progress.

Create short-term targets – not just one long-term goal. You want each smaller target to be achievable, with little room for failure. Your change team may have to work very hard to come up with these targets, but each "win" that you produce can further motivate the entire staff.

What you can do:

• Look for sure-fire projects that you can implement without help from any strong critics of the change.
• Don't choose early targets that are expensive. You want to be able to justify the investment in each project.
• Thoroughly analyze the potential pros and cons of your targets. If you don't succeed with an early goal, it can hurt your entire change initiative.
• Rewardthe people who help you meet the targets.

Step 7: Build on the Change

Kotter argues that many change projects fail because victory is declared too early. Real change runs deep. Quick wins are only the beginning of what needs to be done to achieve long-term change.

Launching one new product using a new system is great. But if you can launch 10 products, that means the new system is working. To reach that 10th success, you need to keep looking for improvements.

Each success provides an opportunity to build on what went right and identify what you can improve.

What you can do:

• After every win, analyze what went right, and what needs improving.
• Set goalsto continue building on the momentum you've achieved.
• Learn about kaizen the idea of continuous improvement.
• Keep ideas fresh by bringing in new change agents and leaders for your change coalition.

Step 8: Anchor the Changes in Corporate Culture

Finally, to make any change stick, it should become part of the core of your organization. Your corporate culture often determines what gets done, so the values behind your vision must show in day-to-day work.

Make continuous efforts to ensure that the change is seen in every aspect of your organization. This will help give that change a solid place in your organization's culture.

It's also important that your company's leaders continue to support the change. This includes existing staff and new leaders who are brought in. If you lose the support of these people, you might end up back where you started.

What you can do:

• Talk about progress every chance you get. Tell success stories about the change process, and repeat other stories that you hear.
• Include the change ideals and values when hiring and training new staff.
• Publicly recognize key members of your original change coalition, and make sure the rest of the staff – new and old – remembers their contributions.
• Create plans to replace key leaders of change as they move on. This will help ensure that their legacy is not lost or forgotten.

Reprinted by permission of Harvard Business Review. From "Leading Change by John P. Kotter. Copyright © 2012 by the Harvard Business School Publishing Corporation; all rights reserved.

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Primary Business Models

 The Primary Business Models, identified by Edwin Korver, each has a distinct dynamic. Complementary to Don Peppers’ graphical representation of Product and Customer Centricity (the AS-A-PRODUCT business models to the left), we added two new graphs to complete the series.

13.1 - CREATING LEVERAGE

Leverage greatly determines the growth potential of a business model. Prior to the Business Model Matrix™ business literature recognized two levers: Share of Market (blue) and Share of Wallet (green). We pride ourselves to have completed the set with two additional types of leverage: Share of Utilization (yellow) and Share of Transaction (red).

It is important to emphasize that these levers aren’t particularly ‘new’, however, they gained traction due to the rise of digital technology which took away most of the physical barriers that previously limited the growth potential of the underlying business models.

13.2 - DRIVING GROWTH

A product-centric business model is based on generating customer demand driven by product development in order to profit from so-called economies of scale ─ in general, these types of companies looking to increase and defend their Share of Market.

A customer-centric business model, on the other hand, is driven by customer development. Your objective is to fulfill more of the needs of a select group of customers that are more likely to spend more and thereby allow you to increase your Share in their Wallet.

The leverage of a resource-centric business model, Share of Utilization, comes from an ROI on deployable resources. For instance, if you deploy a car in a car-sharing concept, your objective is to increase the utilization of the car, limited by its maximum capacity (Car2Go).

If you offer a ride-sharing platform ─ which is a network-centric business model ─ your objective is to bring together as many riders and ride-hailers together into one ‘space’ to increase the likelihood of a ride to occur from which you can obtain a Share of Transaction (Uber).

"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man."

~ George Bernard Shaw, Man and Superman (1903)​

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Інструменти на основі штучного інтелекту, які можна використовувати у маркетингу

 

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TQM Tools

 Here follows a brief description of the basic set of Total Quality Management tools. They are:

Pareto Principle

Scatter Plots

Control Charts

Flow Charts

Cause and Effect , Fishbone, Ishikawa Diagram

Histogram or Bar Graph

Check Lists

Check Sheets

Pareto Principle

A scatter plot is effectively a line graph with no line - i.e. the point intersections between the two data sets are plotted but no attempt is made to physically draw a line. The Y axis is conventionally used for the characteristic whose behaviour we would like to predict. Use, to define the area of relationship between two variables.

 

Warning: There may appear to be a relationship on the plot when in reality there is none, or both variables actually relate independently to a third variable.

 

Control Charts

A scatter plot is effectively a line graph with no line - i.e. the point intersections between the two data sets are plotted but no attempt is made to physically draw a line. The Y axis is conventionally used for the characteristic whose behaviour we would like to predict. Use, to define the area of relationship between two variables.

 

Warning: There may appear to be a relationship on the plot when in reality there is none, or both variables actually relate independently to a third variable.

 

Control Charts

Control charts are a method of Statistical Process Control, SPC. (Control system for production processes). They enable the control of distribution of variation rather than attempting to control each individual variation. Upper and lower control and tolerance limits are calculated for a process and sampled measures are regularly plotted about a central line between the two sets of limits. The plotted line corresponds to the stability/trend of the process. Action can be taken based on trend rather than on individual variation. This prevents over-correction/compensation for random variation, which would lead to many rejects.

 

Flow Charts

Pictures, symbols or text coupled with lines, arrows on lines show direction of flow. Enables modelling of processes; problems/opportunities and decision points etc. Develops a common understanding of a process by those involved. No particular standardisation of symbology, so communication to a different audience may require considerable time and explanation.

 

Cause and Effect , Fishbone, Ishikawa Diagram

The cause-and-effect diagram is a method for analysing process dispersion. The diagram's purpose is to relate causes and effects. Three basic types: Dispersion analysis, Process classification and cause enumeration. Effect = problem to be resolved, opportunity to be grasped, result to be achieved. Excellent for capturing team brainstorming output and for filling in from the 'wide picture'. Helps organise and relate factors, providing a sequential view. Deals with time direction but not quantity. Can become very complex. Can be difficult to identify or demonstrate interrelationships.

 

Histogram or Bar Graph

A Histogram is a graphic summary of variation in a set of data. It enables us to see patterns that are difficult to see in a simple table of numbers. Can be analysed to draw conclusions about the data set.

 

A histogram is a graph in which the continuous variable is clustered into categories and the value of each cluster is plotted to give a series of bars as above. The above example reveals the skewed distribution of a set of product measurements that remain nevertheless within specified limits. Without using some form of graphic this kind of problem can be difficult to analyse, recognise or identify.

 

Check Sheets

A Check Sheet is a data recording form that has been designed to readily interpret results from the form itself. It needs to be designed for the specific data it is to gather. Used for the collection of quantitative or qualitative repetitive data. Adaptable to different data gathering situations. Minimal interpretation of results required. Easy and quick to use. No control for various forms of bias - exclusion, interaction, perception, operational, non-response, estimation.

 

Check Lists

A Checklist contains items that are important or relevant to a specific issue or situation. Checklists are used under operational conditions to ensure that all important steps or actions have been taken. Their primary purpose is for guiding operations, not for collecting data. Generally used to check that all aspects of a situation have been taken into account before action or decision making. Simple, effective.

 

References

• The Tools of Quality; Quality Progress, Nov 1990; J T Burr.
• The Tools of Quality; Quality Progress, Aug 1990; P D Shainin.
• Sarazen, JS., The Tools of Quality; Quality Progress, July 1990.
• Production Systems; J L Riggs, Wiley, 1987.
• Production/Operations management; Terry Hill, PHI, 1983.
• The Tools of Quality; Quality Progress, Sept 1990; The Juran Institute 

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The Impact Of COVID-19 On Supply Chains

 

by Mark Tuinstra

Social & Economic Hardships

As the coronavirus has spread around the world over the past four months, the pandemic has brought unimaginable devastation with the loss of over one hundred thousand lives and millions of confirmed cases of the disease. Globally we are self-isolating and staying away from meeting places and events to avoid contracting or spreading the disease. In addition, widespread policies mandating social distancing are in effect, and most US states have shut down non-essential businesses like sit-down restaurants, gyms, and boutiques as well as schools, parks, and other public places.

The COVID-19 outbreak has upended our day-to-day life and significantly impacted the global economy. In the US, an analysis by Moody’s estimates the daily US economic output has fallen 29% compared with the first week of March1 prior to extensive closures. Industries like travel and hospitality face a devastating impact from the virus.

With large portions of the workforce laid off or working fewer hours, over 20 million Americans filed unemployment claims during the weeks between March 21 and April 11, according to the Labor Department. At the other end of the spectrum, some industries are scrambling to find workers to meet increased demand. Unfortunately, there are indications that illnesses and fears associated with the virus are leading to workforce shortages and strains on supply chains. The roles most impacted at this point in the crisis are truck drivers, grocery store staff, and workers in meat processing plants, and shortages of these workers may lead to delays or shortfalls in certain products in the coming weeks.

Adapting To Huge Changes In the Channel Mix

A striking aspect of the COVID-19 crisis is the degree to which some industries have been entirely shut down while others are surging. Indeed, even similar products within related sectors of the economy have been impacted in very different ways. The clearest example of this may be in food manufacturing and processing.

Data from the USDA shows just over half (54%) of the $1.7 trillion in US food sales in 2018 involved away from home meals. However, due to the coronavirus, most of the nation’s one million restaurants have closed entirely or moved to exclusively takeout/delivery, and 95% of Americans are under some form of stay-at-home order. Significantly more at-home meal preparation, along with consumers stockpiling as they prepare for spending more time at home, have meant a major spike in demand in retail channels, particularly grocery and ecommerce. Food service sales have subsequently plummeted, with the shift representing a massive challenge for the food supply chain.

Nowhere is the difficulty of adapting to a new channel mix more obvious than with dairy and other farm fresh products. At the same time as panic-buying has resulted in limits on items like milk, butter, and eggs at stores, farmers are dumping their excess supplies of milk and eggs. Differences in product and packaging requirements for food service compared to retail channels mean producers cannot easily pivot to serve consumers.

For example, grocery stores generally stock wedges from cheese blocks, not the sliced barrel cheeses used by fast food restaurants. In addition, products headed to food service are mostly sold in bulk and not distributed in consumer-facing packaging. Think of a 10lb bag of shredded cheese versus the 8-ounce package shoppers buy for home.

In cases where processors might be able to modify production and acquire the packaging to sell in the grocery channel, they often lack relationships with stores to negotiate for shelf space.

For some consumer packaged goods companies, the surge in demand has meant sharpening their focus to produce key SKUs at the needed volume. One example is Coca-Cola which is seeing a spike in demand in grocery and ecommerce as consumers stock up, and the brand is aiming to deliver its best-selling beverages while smaller SKUs may go unstocked for now2.

The Impact Of COVID-19 On Transporting Goods

Even when manufacturers are able to get the needed product in the right packaging and secure space on the shelf, transporting goods represents another major challenge.

Carriers in general do not have extra capacity to meet the spike in demand brought about by the crisis, and the delivery of goods has slowed in many cases due to several factors. First, a chronic shortage of freight truck drivers has existed for several years as the aging workforce of drivers retire without sufficient numbers of new workers joining the industry to replace them. As the coronavirus spreads, there are even fewer as some drivers are not working due to illness. Meanwhile, others fear contracting a virus that is particularly dangerous to those over 60 and have opted to not take the risk of working in a job where they interact with many others along their routes.

In addition to the shortage of drivers, logistical limitations are preventing the efficient distribution of products to meet surging demand. Delays and backlogs at plants may result from overloaded delivery docks and storage areas that lack the space to handle the increased output. A shortage of refrigerated trucks has slowed shipment of products like meats and grains as well.

Managing The Supply Chain To Meet Health & Safety Needs

Arguably the most critical supply chain during the crisis serves the healthcare industry, ensuring sufficient supplies of medical devices like ventilators, sanitizers/cleaners, and personal protection equipment (PPE), including masks, gloves, and gowns.

Export controls have been imposed in many markets, and in the case of medical equipment and PPE, governments are re-routing deliveries. Officials have seized products at the border to keep them in the country and in some cases sent PPE to hospitals instead of the original buyer.

Ansell, a leading manufacturer of PPE, says demand for their products has doubled and their supplies are sold out3. It is unclear how much they can boost supply due to raw material shortages and supply chain disruptions.

Pharmaceutical manufacturing is another vital area where supply chains are strained. Critical medications are in increasingly short supply as drug manufacturers in China and India, which the US relies heavily on for its drug supply, have largely shut down plants and blocked exporting active pharmaceutical ingredients used in drug manufacturing.

As the coronavirus first spread, the initial challenges were related to reduced supplies from China. Now supply chains are challenged everywhere, and with unemployment rising and consumer spending reduced, demand is plummeting. Outside of companies making essential medical/PPE goods or products for the defense industry, few large manufacturers can keep operating at full capacity. Automakers and their suppliers have in most cases closed manufacturing facilities. However, some companies are adapting and have shifted to produce different goods in order to meet the surge in demand for medical-related products. In one case, a producer of oil/gas equipment has moved to making medical visors.

For manufacturers finding their raw materials in short supply, local suppliers and 3-D printing are being used more. Local sourcing allows producers to avoid rising import costs, export restrictions, and delays in shipping times due to fewer flights, overextended trucking companies, closed ports, among other barriers.

Over the past few years, 3D printing solutions have offered advantages to companies looking for greater agility in manufacturing, such as in the production of spare parts allowing companies to maintain smaller inventories. During the pandemic, 3D printing is a valuable tool to support supply chains and address product shortages. NASCAR, which typically uses 3D printing to build composite parts for stock cars, is producing PPE to donate to hospitals4

Preparing For Future Supply Chain Challenges

Following the current crisis, organizations will have an opportunity to learn from the challenges they experienced and take steps that will strengthen their supply chain. For many, the crisis will serve as a “wake-up call” that better preparation is needed, and supply chain management experts say mapping out supply networks is key5. The process should include not just a company’s immediate suppliers but their suppliers’ suppliers and their global footprint.

Many companies still rely on personal relationships and anecdotes when sourcing and tracking their suppliers. The lack of systematic collection of this information means that when procurement personnel leave, change roles, or retire, their knowledge leaves with them.

While supply network mapping can be resource intensive and difficult, companies may discover the value of the map is greater than the cost and time to develop it. Knowing which suppliers, sites, parts, and products are at risk during a crisis allows organizations to put themselves first in line to secure constrained inventory and capacity at alternate sites.

Companies should also explore new ways to make their sourcing more agile, and some of these may run counter to conventional wisdom. For instance, over recent decades global companies have concentrated production geographically to save money6. Organizations should re-examine the marginal benefits of this kind of concentration since the additional cost of a large company operating plants in different locations is often not more than the cost of having one huge plant. At a certain point, companies may reach the maximum (or near maximum) incremental improvements in efficiency. That is, they may not lose much in terms of gained economies of scale at half the size. By running two plants, businesses lose little in efficiency, but make tremendous gains in flexibility with a supply chain that could better handle future pandemics and other natural disasters.

Other emerging technologies such as Blockchain and driverless vehicles can offer solutions to help governments and businesses respond to COVID-19. Blockchains are already supporting in various ways by certifying the origin of PPE and other sanitary products to ensure authenticity and limiting the privacy impact of tracing and immunity tracking apps. In Italy, blockchain technology has enabled donations to the Red Cross to go through and has been used to certify a news on a publishing platform to combat fake news.7

Meanwhile, autonomous vehicles can help address a shortage of drivers and solve delivery issues including new requirements for touchless deliveries. There are signs deployment of the technology is accelerating due to the pandemic. In fact, automated vehicles distributed groceries and medical supplies in China during the coronavirus lockdown. JD.com delivered goods in early February with workers loading autonomous logistic vehicles which could each deliver dozens of packages to destinations including hospitals.8

Shortages of essential medicines and equipment during the crisis have exposed the dependency of the US on China and other nations. This has led to calls for the US to move away from reliance on importing these types of essential goods and strengthen domestic capabilities to manufacture drugs and medical supplies.

What Comes Next

As the number of infections and coronavirus-related deaths appear to have reached an apex or at least a plateau in some areas, officials have begun to assess lifting restrictions and re-opening businesses. Leaders in the US are looking to countries like China and Italy where the outbreak hit earlier to understand how to avoid potential dangers of lifting shutdown orders prematurely.

As guidelines are prepared in the coming weeks, it is clear that many aspects of daily life in the areas hardest hit by the virus will be significantly altered at least in the near-term until widespread testing is undertaken, and perhaps even longer still until a vaccine is brought to market. In the meantime, supply chains, particularly those with the healthcare and food sectors, will undoubtedly be strained and companies forced to adapt to a new reality.

1https://www.wsj.com/articles/state-coronavirus-shutdowns-have-taken-29-of-u-s-economy-offline-11586079001
2https://www.cnbc.com/2020/03/24/coronavirus-coca-cola-ceo-says-supply-chain-is-creaking.html
3https://www.ft.com/content/140c9875-2c57-4e54-a4c4-e8518645887c
4https://www.forbes.com/sites/stevebanker/2020/04/13/covid-19-and-3d-printing/#7fb6317a3f7a
5https://hbr.org/2020/03/coronavirus-is-a-wake-up-call-for-supply-chain-management
6https://insight.kellogg.northwestern.edu/article/coronavirus-upended-supply-chains-how-companies-can-prepare-disruption
7https://cointelegraph.com/news/eu-founded-task-force-to-study-how-blockchain-may-help-covid-19-response
8https://www.weforum.org/agenda/2020/03/china-covid-19-coronavirus-mobility-solutions/

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