We hear all the time “the new norm”. We hear this more often than we’d like to. The truth of the matter is that this pandemic has changed the way our country operates. It’s changed the way we operate as a community, as individuals, as families. To understand why, I’ll share with you how COVID has changed the supply chain.
- Corporate CEO’s are now paying closer attention to the supply chain and putting more effort into maintaining it.
- Before the pandemic, cost reduction and productivity were what was driving supply chain process improvements and investments. The pandemic has forced companies to shift the focus to ensuring business continuity.
- The buyer and supplier relation has been altered. More and more are learning to partner to get what they need.
- Supply chain workarounds are the new standard way of life. More companies are finding other ways to meet customer’s needs without having to wait on suppliers.
- Inventory norms are not what they used to be. Companies are keeping way more supply of materials than they have in the past, simply to not be low on stock.
What are your thoughts about this? What ways can we work together to come to a common goal?