COVID-19 will ultimately impact every step of the value chain.
Companies can protect their supply chains by tracing back needs from customers to suppliers. Your suppliers require real-time monitoring of inputs, and you’ll need daily updates to manufacturers on stock levels, inventory, deliveries, and priorities. Manufacturers are responding to shifting demand and labor shortages, while retailers face increased demand for many products and supply shortages. Your customers’ purchasing behaviors may be erratic as they sort out what the COVID-19 pandemic means for them.
Over time, companies should prepare for a return to a post-COVID-19 world. Your rapid response should evolve into creating plans to restart operations and retrain your workforce if necessary. Lessons learned during the crisis should be codified to inform future work as you grow your business.