COVID-19 has changed everything about the world we once knew, from the way that people engage with each other to the way that businesses operate. For supply chains, this has been a huge obstacle. Keeping our supply chains in operation is integral to maintaining day-to-day life, but the supply chain industry is facing bigger challenges than ever before. To protect themselves from major shipping and freight forwarding disruptions, business leaders need to implement specific preventative measures and processes for their supply chain needs.
Supply chains that rely on one or two sources for manufacturing are hit hardest with any major disruption. For example, any supply chains that rely on China for all of their manufacturing sourcing are hit the hardest during a major disruption like COVID-19. Diversifying your souring points throughout your supply chain will give your organization better solutions and better protection from disruption during a crisis.
Invest in Innovation
New pieces of technology are available for supply chains every day, simplifying and optimizing your daily processes. Investing in innovative technology like predictive analytics allows supply chains to detect a disruption before it happens. With the right tools in place, your supply chain will be equipped to handle the day-to-day as well as the unexpected.
- Automation supports the workforce during high volume and demand seasons, especially when your workforce is strained.
- Artificial intelligence can support demand forecasting and planning tools to optimize inventory during high demand peaks.
- Predictive analytics takes in signals from the supply chain environment and can forecast disruptions before they happen.
- Prescriptive analytics provide corrective actions to lower risk and losses caused by any disruption, in real-time.
Empower Your Workforce
No matter what kind of crisis your industry is facing, your workforce will play a pivotal role. It’s important to remember that no matter how innovative your technology is, your people matter most. Equipping your teams with these tools will improve employee morale, engagement, and productivity through a crisis. These tools will help your teams perform when your organization needs it most. Training, communication, and collaboration will give your team the resources they need to navigate through a crisis.