How Supply Chain Industries can get through the COVID-19 Crisis
In the wake of COVID-19, how can companies increase the resilience in their supply systems? What are forever changes that companies need to adapt to, to ensure long-term success? Here are some tips to be suggested to overcome the COVID-19 pandemic situations.
Leverage analytics for shortage analysis:
Most of us have seen a supply-versus-demand stock out. But many organizations have never built this simple analysis into a full report for real-time shortage visibility. Supply chain analytics can quickly help you identify precisely which items require the most urgent attention, which items are expected to run out one or two weeks from now, and so on. When you move into crisis mode, it’s critical that you’re able to identify items at risk of stock out so you can take early action.
Adding two relatively simple analytics to the standard supply-demand analysis can create a report that provides the insights you need.
Identify the first instance of shortage. That way, the earliest problem items—where demand will exceed supply—rise to the top of the report.
By including or excluding items with purchase orders, you can identify what action is needed, Items with planned deliveries may need to be expedited, or have deliveries confirmed so you can be confident that supplies will really arrive as scheduled.
Use Logistics ERP Software to manage the supply chain Crisis:
We all talk about being “less reactive and more proactive.” But in fact,
Supply Chain S/w tools detect events faster and allow us to react faster for better outcomes.
3PL Software help user anticipate where and when supply chain disruptions are more likely to occur, so we can proactively get ahead of them.
Move to a digital future:
Become a data driven enterprise: Data-driven enterprises are those that maximize the value of data and treat it as a strategic asset to anticipate and respond to future events.
Create the Ultimate Agile Enterprise: Model organization, processes and technology to achieve speed, adaptiveness and stability.
Establish a Control Tower: Monitor the regulatory, market, customer and competitive environment to execute with certainty as markets begin to re-emerge.
Build virtual branches: Explore the possibility of converting smaller physical branches into permanent virtual branches.