Take Charge of Your Supply Chain – Part 4 of 5
Ask almost anyone and they will identify the pandemic as the turning point for everything from the dramatic growth of social media to the expansion of hybrid work environments. Yes, the percentage of people working exclusively from home grew dramatically from pre- to post-pandemic, but it had almost no effect on the ‘hybrid’ environment. In fact, a greater percentage of people worked from home 1-2 days/week pre-pandemic. In many cases, the pandemic masked what was already happening in the culture. The fact is, people were changing.
Turning to supply chain management, the pandemic absolutely impacted the availability of raw materials, the labor pool, and the lead times required to move product from origin to distribution point. But, just because the restrictions imposed by the pandemic have dissipated, it would be irresponsible to operate as if we were about to experience a return to historical timelines. The reality is that consumer buying habits have been, and continue to be, changing which alters the approach to supply chain management.
Why is all of this changing? The simple answer is, because everything changes. The more important answer is different from category to category, product to product, and even from region to region. THAT is what needs to be understood if supply chain managers are to properly anticipate, plan and order product for their customers.
One can do focus groups and surveys for some insights. Or, they can rely on their own data…if they can turn that data into usable information to help understand what is and isn’t needed moving forward. That’s why supply chain management needs a sound technology platform. Without this knowledge, without the insights, and without the capability to analyze and finalize, supply chain managers are doomed to mistakes, stockouts and confusion. And, that doesn’t help anyone.
Isn’t it time to help yourself? Let 4R help you turn your data into insights for more accurate forecasts and supply chain planning. Contact us.
The fifth and final part of the series: Who Thinks of Inventory as an Investment? Raise Your Hand!
Back to Part 1: The Days of Predicting Tomorrow Based on Yesterday are Gone
Back to Part 2: Applying the 4P’s to Supply Chain Management
Back to Part 3: Managing the Supply Chain Means Managing Every Link