March 13, 2020
Dear valued customers,
As committed to you, given the fast-moving and fluid nature of the coronavirus (COVID-19) situation, I’m updating you on how we’re managing our global operations. As part of our strong commitment to mitigate any possible impact to your operations, we are closely monitoring the developing situation and reviewing any potential shortages.
Overall, Resideo still has good inventory positions on finished products to cover our expected customer demand and most supply variability in the near term. We are working daily with our vendors to validate component deliveries and utilizing inbound premium freight when necessary to close supply gaps.
This week, we had an employee in our Lotte, Germany, facility test positive for the coronavirus. The individual self-quarantined and we’ve temporarily closed the facility for cleaning in accordance with U.S. Centers for Disease Control and Prevention guidelines. We don’t expect any impact to our customers.
Today, we’ve announced to our employees a proactive measure encouraging them to work remotely if their jobs allow it, to lessen large congregations of gatherings, instead encouraging all to use enabled technologies to collaborate. We have communicated the U.S. Centers for Disease Control and Prevention (CDC) recommended precautionary measures and any local regulatory requirements, which in some instances are more rigorous, to our employees to educate them and to help prevent the spread of any respiratory diseases. We are also working diligently to help ensure safe working environments for our employees, customers and visitors during the COVID-19 health concern.
While we believe we have adequate supplies of components and finished goods to meet existing demand, we commit to providing you with updates should the greater global COVID-19 concerns otherwise impact our ability to supply your needs. We will make these updates available on www.resideo.com for your convenience. Should you need further information, have any concerns and/or queries, please contact your account manager or customer service representative.
Thank you for your understanding.
Vice President, Integrated Supply Chain