The one definitive in supply chain is that every action has a series of reactions. Those reactions drive policy, practice, behavior and a multitude of other conditions on the ground that we all manage. In the case of COVID-19, the impact goes even deeper from a psychological perspective in how we begin to mitigate risk and prioritize our upcoming initiatives. A recent virtual conference held by Cottingham & Butler featured a keynote presentation by Bruce Mehlman focusing on how the crises of the 2020s will be bringing the future faster, and how COVID-19 is reshaping our psychology and priorities.
As we have seen in the last few years advances in technology are quickly reshaping supply chains. Add COVID-19 into the mix and planning for the new normal becomes paramount as work begins on recalibrating strategic plans and initiatives. For shippers, incorporating the following objectives into the planning process can support your key initiatives:
- Real-time planning: The “what if” is shaped by considerations given to how quickly we can react to market conditions.
- Enterprise-wide planning: Eliminate the silos in your planning process and incorporate sales, operations and finance within the process.
- Seek end-to-end visibility: Get a firm grip on demand to provide more accurate forecasting allowing for scenario modeling.
- Achieve real-time visibility of your supply chain: Supply Chains have a number of moving parts and real-time visibility allows for quicker reactions to market conditions or disruptions.
- Enhance your supply chain with technology: Disruptions can severely impact an organization without the tools to quickly react.
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