Building resilience in your supply chain is vital during the pandemic to ensure minimal disruption to your manufacturing activities.
In this period of transition, we are experiencing uncertainties across industries and at a personal level due to the COVID-19 pandemic. This, along with the geographic lockdowns and social distancing norms laid down by governments worldwide, has significantly altered the purchasing behavior of individuals and businesses alike. These constraints have intensified supply chain challenges due to low availability of labor, high demand for essential goods and limited scope for in-store purchases. Yet, what has remained consistent in terms of being a key challenge area is inventory. As companies shift from a growth to sustenance mindset, from top-line to cost-takeout, physical to touchless and immersive experiences, and on-site to remote connectivity; inventory has emerged as one of the key influencing factors in adapting to the new normal.
Inventory has proven to be a key challenge and influencing factor during this pandemic. Based on the nature of their requirements, organizations choose from a variety of inventory management solutions but are still experiencing gaps due to availability of limited aspects and inability to customize solutions.
The white paper proposes an organized approach to choose an effective inventory management solution to address the challenges and overcome the limitations-
- Inventory optimization to handle surges in demand
- Identifying the causes and addressing inventory shrinkage
- Evolving customer expectations with cutting-edge technology
In this disorganized situation, re-architect the future by-
- Sustaining business in an altered macroeconomic climate
- Redefining business models
- Planning effectively to meet demands
- Realigning business strategies to align with current market trends
Many industrial manufacturers are focusing on fulfilling existing order pipelines. Significant uncertainty in demand planning across retail and manufacturing has resulted in organizations taking a wait-and-watch approach. This lack of downstream certainty has cascaded down supply chains, impacting components and materials industries as well.
Download the white paper to know how the present situation is shifting the dynamics of inventory management and how you can meet the expectations with a structured approach.