Originally published on ExpertClick on May 27, 2020
CLAREMONT, CALIFORNIA – May 27, 2020 – Manufacturing and Supply Chain Expert, Lisa Anderson, MBA, CSCP, CLTD, president of LMA Consulting Group Inc., predicts that a proactive understanding of customer demand and diversification within the supply chain will prevent a next round of guffaws as the effects of COVID-19 disruptions to the supply chain begin to subside and the world faces the uncertainty of the return of COVID-19. LMA Consulting Group works with manufacturers and distributors on strategy and end-to-end supply chain transformation to maximize the customer experience and enable profitable, scalable, dramatic business growth.
The importance of the supply chain took front and center stage as the COVID-19 pandemic raged throughout the world. “The wrong products were in the wrong places at the wrong time. From bumper crops of vegetables, eggs and other foodstuffs to the infamous toilet paper capers, consumers became very aware of the fine balance within the worldwide supply chain. Crops and dairy products originally destined for restaurants soon saw their demand disappear while grocery stores had to limit demand to keep up. Hoarding of consumer paper goods like toilet paper and paper towels caused weeks’ delay in replenishments. And, after nine weeks of shortages, manufacturers are still having challenges in aligning demand with supply,” stated Ms. Anderson.
The key is future proofing the supply chain so that it is resilient to disruptions. That requires taking a proactive approach to putting strong secondary and tertiary backups in place for every element within the supply chain. “The supply chain is both simplistic and complex. It is all about satisfying the customer, even before they know what they want. The complexities start when managing equally important priorities. From developing strong relationships with core suppliers and identifying customer buying patterns to forecasting inventory needs to satisfy demand, the details are many, balanced with having the right products in the right place at the right time for the right price, all while being profitable. COVID-19 has highlighted that even if your supply chain is complex, it also must be nimble,” she continued.
“We’ve seen the consequences of wringing too much out of the supply chain. The winners have been those manufacturers who had strong relationships with multiple suppliers, good insights into customer demand, multiple options for transportation and dedicated teams willing to pivot to new ways of doing business to keep and expand the business. We have seen new business opportunities emerge and stalwarts struggle. The good news is that we have, once again, rallied to a challenge,” she said. The video conferencing tech explosion, brick and mortar retailers becoming online behemoths to satisfy at-home demand and manufacturers retrofitting production lines to make ventilators and sanitizers have demonstrated the strength, innovation and ingenuity of manufacturing during a crisis. “Now, it’s time to take what we have learned and quickly adapt it to the new un-normal. Manufacturers are already making inroads with new suppliers, forming unusual partnerships to expedite progress, building speed and resiliency into their operations, pursuing industry 5.0 and reshoring production closer to ever-changing customer demand. As much as these initiatives sound proactive and thorough, they are not enough. Manufacturers need to get ahead of the curve and create disruption to thrive in this new un-normal she concluded.
Ms. Anderson recently released, Future-Proofing Manufacturing & the Supply Chain Post COVID-19, an eBook that provides practical go-forward insights, advice and experiential value for manufacturers and their supply chains.
About LMA Consulting Group – Lisa Anderson, MBA, CSCP, CLTD
Lisa Anderson is the founder and president of LMA Consulting Group, Inc., a consulting firm that specializes in manufacturing strategy and end-to-end supply chain transformation. She focuses on maximizing the customer experience and enabling profitable, scalable, dramatic business growth. Ms. Anderson is a recognized Supply Chain thought leader by SelectHub, named a Top 40 B2B Tech Influencer by arketi group, 50 ERP Influencer by Washington-Frank, a top 46 most influential in Supply Chain by SAP and named a top woman influencer by Solutions Review. She recently published, I’ve Been Thinking, 101 strategies for creating bold customer promises and profits. A regular content contributor on topics including a superior customer experience with SIOP, advancing innovation and making the supply chain resilient, Ms. Anderson is regularly interviewed and quoted by publications such as Industry Week, tED magazine and the Wall Street Journal. For information, to sign up for her Profit Through PeopleTM Newsletter or for a copy of her book, visit lma-consultinggroup.com.