Companies undoubtedly have a tough job ahead of them to recover from this viral outbreak. However, there needs to be a substantial debate on how to prevent the next unpredictable tide from having the same impact. Building on the evolution of this pandemic, along with lessons learned from previous disruptions, here are some key pillars to help companies build a resilient supply chain.
- Conduct end-to-end supply chain risk assessments and prioritize key areas of concern
In the short term, responsiveness and speed are everything. Proactively engaging supply chain ecosystem partners, such as suppliers and logistics service providers (LSPs), to conduct a risk health review:
Identify – change demand and inventory levels to locate critical gaps in supply, production capacity, storage, and transportation. While in transportation HGV driver training companies like HGVT have adopted to new ways to train following all government rules. You can also get a better guideline on www.hgvt.co.uk regarding to these rules.
- All centres are daily sanitized.
- All trainers and staff members are checked every day.
- Everyone wears a mask & PPE while training one to one
- Maintain social distancing where possible
- Launched online cpc for the cpc module so hat part of the training can be done online and only practical training is done in vehicle.
Define – common goals and a results-oriented, short-term resilience strategy, with breakdown activities across the supply chain ecosystem, in order to effectively and efficiently take advantage of additional networks between the set of suppliers and production and distribution networks.
Deployment – Leading companies develop action plans based on scenario analysis to limit the impact of disasters. A fact-based dashboard, including aligned key performance indicators, helps create visibility across the enterprise and the ecosystem. This can help a business dynamically rethink its plans as needed.
- Develop a solid risk management process and diversify the supplier network
Companies should map the supply chain networks from end consumers to Tier N suppliers. For each node in the supply chain/arch channel, warehouse, factory, supplier or mode of transport, companies They must establish a methodology to measure risk.
- Implement digital and automated manufacturing capabilities along with strong manufacturing excellence
Leverage automation and IoT solutions for smart manufacturing operations to mitigate dependency on labor-intensive processes. A robust program of excellence in manufacturing enabled by digital technology can enable the standardization of daily work and work facilities, alleviating the pressure of relying on specific individuals to make an operation work. IoT capabilities can help foster a digital ecosystem of connected systems, providing users with relevant and up-to-date data to make the most informed decision at any time. Automated manufacturing capabilities will allow a company to carry out a manufacturing operation using interchangeable personnel and reduce labor requirements.
- Assess and adjust the strategic priorities of the procurement category
Transform procurement into a value-generating function through timely reviews and fine-tune strategic category priorities to define new business relationships with suppliers to meet the overall objectives of the company’s supply chain. An agile procurement operations system, made possible by various technologies, factoring the strategic priorities of the categories through variables such as cost, quality, delivery, innovation, etc. it will also help boost recovery capacity. Companies can introduce digital procurement technology to benefit from supplier social networks.
- Invest in more collaborative and agile planning and compliance capabilities
The art of the possible today in technologies that can bring more agility and collaboration within the company as well as between business partners is endless. From IoT devices for detecting demand and tracking the movement of goods to advanced prediction solutions and tracking the behavior of demand on social networks, they are having a great impact on the way companies understand signals. of demand and how quickly they can react to them. These capabilities are extremely important to business performance, even under normal business conditions, and increase the resilience of the supply chain in pandemic events like the coronavirus outbreak we are experiencing today.
The current COVID-19 pandemic has disrupted all sectors with varying degrees of impact. The time has come for companies to quickly assess, recover, and respond to the many obstacles and challenges that still stand in the way. Through the chaos of recovery, it will be all too easy to overlook the root cause and loopholes within a supply chain that may have paralyzed businesses during this unpredictable major event in the first place. Building a resilient supply chain will be the epicenter of future discussions for years to come.
A pandemic outbreak of the magnitude of the coronavirus has caught entire companies and industries off guard, with a ripple of effects that has ripped apart their supply chains and businesses. Drawing on the developments of this pandemic, along with lessons from past disruptions, this article offers some key pillars to help companies build a more resilient supply chain.