Supply Chain Agility

In the post-Covid era, the business environment is more volatile than ever. Whether your company is big or small, you are faced with an ever-increasing uncertainty in the market place.

Customers have been not only more conservative in spending but also more demanding than ever before. Indeed, customers are seeking lower prices, higher quality, and faster delivery. In turn, this scenario has pressured companies to shorten product life cycles, adopt new technologies as well as invest in new distribution channels such as eCommerce. Organizations must build supply chain agility which enables business growth and sustainability in the dynamic and volatile markets.

One of the best ways to enhance supply chain competencies is scenario plan-ning – that helps business owners to prepare multiple plans for possible worst-case scenarios and best-case scenarios. The outcome of this exercise can put your organization in position to leverage opportunities for the best-case sce-narios and minimize the risks of the worst-case scenarios. Moreover, even in the worst-case scenarios, planning enables supply chain managers to see that they have different choices and to pinpoint the execution cost of each choice to make the best decision.

Another strategy to increase the efficiency of supply chain management is supply chain flexibility. In the past, organizations worked hard to develop a lean supply chain, focused on standardization, cost reduction, and waste elimi-nation. However, this concept usually ignores customer satisfaction, as it aims to serve fewer customers, offer fewer product ranges, and keep far less inven-tories. In the post-Covid situation, supply chains need to be more flexible, building in more diversity in customer bases, geographical markets, distribu-tion channels, and overall offerings to their customers.

Currently, over 80 percent of companies review their supply chain globally.

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