A few years ago, when the subject of supply and chain was brought up, many paid little to no attention to it. Both business owners and consumers were content with the flow. Unfortunately, the pandemic hit.
The pandemic's effect on supply chains was worldwide, long-lasting, and included a succession of big shocks to businesses' logistical systems. Even with their business continuity plans, companies were found deficient. The epidemic was viewed as a test of how thriving companies controlled their supply chains, and some of them failed miserably.
Multiple countrywide quarantines and lockdowns continue to stifle or halt the movement of raw goods and completed materials, causing many manufacturers to struggle. Not only that, the ramifications extended to other stakeholders as well, such as the consumer.
But while these struggles occurred, many business leaders somehow found a silver lining. The magnified problems with supply and chain brought to light unseen vulnerabilities, prompting them to reexamine their capabilities as resilient organizations.
At a deeper level, the pandemic has proven the importance of resilience in all areas and levels of supply chain decision-making. They understood the importance of thinking outside the box to reduce the risk of their companies being unprepared for another incident with such devastating supply chain ramifications. Ideation and scenario-building abilities would aid them in anticipating the ramifications of supply chain disruptions on a larger scale.
It's now a whole different ballgame.
All the pandemic-related disruptions have reshaped business continuity thinking and methods, including supply and chain resilience, and it's now become topmost in everyone's mind.
This statement has become the business mantra: RESHAPE SUPPLY CHAIN RESILIENCE IN A POST-COVID-19 WORLD.
Companies are becoming increasingly cognizant of being more flexible and agile to react and adapt rapidly to potential disruption. Two significant elements rise above the surface as prominent needs to reshape resilience:
• Investment
• Technology
A high percentage of top organizations recognize the need for change and accelerate investments in supply chain sustainability in the next few years. Reskilling or upskilling supply chain workers has become necessary to quickly adapt to the demands of an ever-changing work environment due to possible disruptions.
Most importantly, business leaders have identified the need to increase investment in supply chain technologies. Accelerating the uptake of new technologies answers that more profound knowledge of upstream supply chains because these are what could throw any susceptibility or vulnerability out the window.
BCM next agrees that a digital supply chain can help businesses navigate disruptive pressures and respond more quickly to fluctuating supply and demand. We can help your organization as you invest in supply chain technology such as AI and robotic process automation while retraining personnel.
Reshape your supply chain resilience with BCM next !
Comments