COVID-19 has quickly established itself as the watershed event forcing many organisations to rethink their Target Operating and Supply Chain models. For many organisations, the pandemic is stretching their capability to operate within their existing business model and challenging their supply chain flexibility to breaking point.
Continuous focus on supply chain optimisation in order to reduce costs, improve asset utilisation and optimise inventories, has removed any buffers in the supply network and with it, the flexibility to absorb disruptions. With the supply chain industry facing huge challenges, coupled with changes in customer demand and restrictions on movement of materials including shortages, the Pandemic is forcing many to rapidly assess and frantically adapt their supply chains.
During such far-reaching events such as covid-19, a clear quantification of risk can help steer organisations towards setting appropriate plans to mitigate the significant disruption which inevitably ensues.
There are four key areas where TORI Global can help you to address these immediate challenges:
- Identify the blocks in your current supply chain model and Create contingency plans: (evaluate scenarios for different demand environments and develop a risk mitigation plan)
- Reduce the impact of supply shock (disruption to the availability of goods): Collaborate closely with existing suppliers through a symbiotic approach, whilst looking at diversifying the supply base
- Manage demand volatility: Develop approaches and controls to manage panic buying situations to smooth the volatility and pressure to the supply dynamics
- Protect the key components of the supply: Ensure the availability of PPE for supply-chain workers; adopt a ‘safety in mind’ approach to managing staff through the effective use of technology.
It is inevitable that the current situation would force many organisations to adopt new supply chain models in order to respond to the new customer demand and purchasing behaviours. However, it is imperative that all organisations look ahead and contemplate the adoption of new supply chain models to facilitate the ‘new norm’. New supply chain technologies are emerging that can hugely improve visibility across the end-to-end supply chain, simultaneously transforming the traditional supply model into digital supply networks. This provides supply end-to-end visibility, collaboration, agility, and optimisation.
Our Supply chain experts have many years of experience, having worked with many blue chip organisations in advisory and execution capacities. We have extensive Subject Matter expertise in the introduction of new technologies to address Supply chain challenges and have alliance partnerships with technology organisations who specialise in the development and implementation of Supply chain tools and processes.
Want to start a conversation?
If any of the above speaks to your current business challenges, be that in regard to SCm (Supply Chain Management) or another issue on your agenda, we'd love to hear from you. Speak with someone from our UK or US office using the details below:
London +44 (0) 20 7025 5555
New York +1 212 618 1970
or email us at email@example.com