Reimagining supply chains to build long term resilience in a post-Covid world
By Richard Morgan, Country Manager, Genpact The Covid-19 pandemic has disrupted all facets of supply chains. Whether it is in the retail, telco, or transport industries both global and local supply chains have been severely tested, having to adapt to new demand patterns, supply constraints and logistical challenges. This unprecedented disruption has only magnified changes in consumer behaviour, under-investment in supply chain tools, technology, and people that were already challenging organisations. As the risk landscape is set to only get more uncertain and complex in the future, building resilient and more agile supply chains is crucial. Learning the Covid-19 lessons If Covid-19 has taught us something is that the strength of a supply chain is only as good as its weakest link. Organisations must use the current disruption as an opportunity to do a full audit and assess how well its supply chain functions can better respond to future disruptions. To build long term resilience companies must re-examine their old supply chain assumptions and evaluate the strength of their end-to-end supply chains. Businesses need to fine tune demand planning, search for deeper visibility of material planning, test supply planning technologies and continuously evaluate logistics plans. Supply chains must move from executors and a cost centre to a source of competitive advantage that unlocks operational margins and builds stability in an uncertain world. Stabilising supply chains: a cross collaboration with risk management teams To address the volatile nature of current – and likely future – supply chain operations, organisations should start by mobilising a dedicated crisis and risk management team that can help advise supply chain teams. A cross collaboration with risk management experts can help build focused risk scenarios and assessments, as well as design new processes and frameworks for rapid replanning, demand forecasts, supplied engagement and reporting and governance. Working […]