Today’s global economic uncertainty has put more pressure on the supply chain. Today more than ever the food, mass consumption, medicine, retail (e-commerce) sectors must be able to respond quickly to changing market conditions, adapting to the different restrictions that each government is establishing in order to safeguard the well-being of its population.
Fortunately, with proper information management and the inclusion of technology that enables remote real-time reading, companies can increase their agility and ability to manage their supply chain.
Supply chain overview
In countries such as the United States, Germany and the United Kingdom, the economic crisis due to the effects of the Coronavirus is being treated as an induced coma, that is, governments are supplying the amount of cash necessary for the local economy to suffer as little as possible and with the Over time, the economy can be reactivated easily. This is at least the plan until June.
In contrast, companies in Latin American countries need long-term stability and planning to adjust processes and take advantage of opportunities, but it is clear that political decisions can dramatically trigger scenarios that were not contemplated.
However, the challenges stimulate innovation, hence the tools that promote greater capacity to mitigate risks, greater control over their supply chains and a simplification in decision-making, will be competitive advantages that companies must consider.
Time for action
Making predictions about market behavior and the impact it will have on supply chains would be irresponsible and imprecise, especially when logistics is not a “plan and forget”, changes must be monitored and strategies must be adapted. What can be predicted is that companies that prepare, that contemplate omnichannel scenarios will have an advantage. Agility is the magic word. Urgency is the driving force.
If you want to know how to orchestrate your supply chain and establish a healthy logistics ecosystem that is receptive to change from a holistic point of view, in order to make more effective decisions in real time and generating value for all the actors involved, leave us your data and we will send you the Whitepaper “THE PATH TO THE AUTONOMUS SUPPLY CHAIN” with the steps to take and the basic questions to ask.