August 17, 2020
David Strausser, podcast host of Shark Bite Biz, and I talk about what’s going on in supply chain. We talk e-commerce, customers’ customers, suppliers’ suppliers, what our most successful clients are doing currently, the pareto principle and more. Listen to our episode (after a short advertisement).
What Should We Consider and/or What Impacts Could Arise?
Although there are many steps every manufacturer or distributor should take during these unprecedented times, there are a few critical and common steps everyone should pursue. At a minimum, immediately address the following:
- Your customers’ customers – Understand your demand, changing buying behaviors, changing product and service needs, etc.
- Your suppliers’ suppliers – Understand your supply capabilities, your suppliers and suppliers’ suppliers cash positions, risks, ability to innovate, etc.
- Don’t forget your internal operations – The equivalent of your customers’ customers’ view of your operations, capacity, staffing flexibility, skills, etc.
- Frequent touch points – Aligning demand and supply (SIOP, also known as S&OP), employees, customers and suppliers
- Sync up with your strategy – Are you still going in the “right’ direction? Think about rapid and agile strategy.
- Innovate – Only those that innovate thrive. During these unprecedented times, successful companies will pull away from the pack by innovating.
Read more about these types of topics in my eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19. Gain ideas and strategies to successfully emerging from coronavirus and thrive long-term. If you are interested in doing an assessment and rapid roadmap tailored to your company, please contact us about this new service offering.
Please share your stories, challenges, ideas and successes.