The disruptions caused by the COVID-19 pandemic are challenging businesses to think in unique and different ways. The virus outbreak has left deep impacts on the supply chain globally. Companies across the globe have been struggling to streamline their supply chains to secure immediate operations. There is pent-up demand waiting to be met for which companies have to pull up their socks and make the necessary changes to keep up in times of Covid-19 and more importantly, post-it.
Given the shifting nature of running everyday operations, companies will have to ramp up supply chains now and in the years to come, toabsorb the shock waves and lower the post-Corona impact. Companies not only have to address the shifts but also incorporate these shifts as a part of running the supply chain to meet demands seamlessly.
Have a look at some of the strategies and investments that you must consider to keep your supply chain up and running in the years to come:
1) Identifying Weaknesses
It is important to focus on areas that are particularly vulnerable and plan ways to cope or make up for these weak spots. Although important, optimizing by cutting down on costs and increasing asset utilization aren’t enough to handle the post- corona shock wave. To strengthen the supply chain and improve efficiency, it is essential to identify your problem areas first and work to improve them.
2) Multi-scenario Planning
Due to the outbreak of the virus many manufacturers offshore were shut down due to the spread of the virus. In countries like China and Italy, where some of the largest rubber manufacturers are located, company shutdowns were enforced and many orders were unable to be fulfilled. Sourcing locally withHarkesh Rubber alleviates the uncertainty of offshore issues.
3) Technology Driven Operations
Investing in a technology-driven dashboard that provides real-time information via an appcould be a good option for retailers to explore. Ensuring smooth material handling, along with adequate manpower availability, is another area that needs to be reviewed and plugged.
Providing a seamless journey for consumers through a mix of digital and physical infrastructure will require the backing of a strong supply chain. COVID-19, in all its volatility and stress, has opened up opportunities to take a hard look at the entire supply chain and reimagine it for tomorrow’s needs. At Harkesh Rubber, we have invested in high-quality rubber injection machines and other technological capabilities that allow us to improve our in-house operations significantly.