By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

Super Value's principal yesterday said he has more than tripled the supermarket chain's inventory levels to guard against coronavirus disruption, and warned: "Panic buying is not doing any good."

Rupert Roberts revealed that he has increased stock levels by around 240 percent, from five weeks' worth of supply to 17 weeks, as a safeguard against any shortages that might result from the COVID-19 pandemic disrupting shipping and the import industry.

"Three weeks ago when we spoke to government, and we told them how much inventory we had, we were going to build an extra three months on top of that. Some will run into scarcity, but the 20 percent of the items that represent 80 percent of the volume - and a lot of that is price-controlled - I think we will get," he told Tribune Business.

"So far it seems that we are OK, but the panic buying is going to disrupt some of that somewhat. The panic buying is not doing the consumer any good, and it is not doing us any good. It just disrupts business, and we can't give them proper customer service. There is definitely no need for it. There is enough food.

"We always carry a five-week supply, we frequently import perishables that come in three times a week to keep them fresh. We carry about five weeks of grocery, and I have added another 12 weeks to that, so that is 17 weeks," the Super Value chief added.

"We don't expect the supply chain to be broken. We settled that three weeks ago, and government has arranged that the food chain will not be broken in any eventuality."

Mr Roberts warned Bahamian shoppers to "just go about their normal life and shop normally, we are taking care of them". He reiterated that "there is no need to panic," voicing concern that consumers are "just filling up their pantry when they don't have to", and that "they are just cleaning out certain stocks so that they get it all and their neighbour don't get it until we have it in next time".

Arguing that this "just doesn't make any sense, Mr Roberts said he had urged the prime minister to demand that Bahamians cease panic shopping on the basis that it is "detrimental" to the smooth functioning of the supply chain.

He added: "There is no reason for fear, and there is no reason for panic. Let's pay attention to the medical. We, in conjunction with the government, almost a month ago decided in any eventuality what we were going to do to feed the people, and that has been taken care.

"I want to assure the public that unless something unforeseen happens there is enough food in the country between the retailers and the wholesalers. I know what I've ordered alone is going to take care of the country, and I pointed out to Captain Russell [at NEMA] that we're ordering enough.

"If islands get isolated I can supply Abaco or I can supply Grand Bahama. I have been helping Abaco a little bit because they can't have it in fast enough since they are still getting out of the hurricane mode."

Responding to concerns that there may be a supply chain shock as the pandemic crisis continues, Mr Roberts explained: "We have turned to our suppliers and they have arranged with government and the shipping companies that in the eventuality that our food supply chains would be disrupted, the government will make sure that it continues one way or the other.

"Two weeks ago that has been arranged. We have thought of everything that we can think of, and we are working with the government. We think that everything is going to work out. Don't worry, be happy. There is no reason to panic, and if anything happens the government will let us know."