Coronavirus disease 2019 (COVID-19) has impacted our end consumers in numerous ways. The widespread outbreak has led to lockdowns and stay-at-home orders that have resulted in the closure of various businesses (e.g. hotels, airlines, restaurants, tourism and entertainment), an unemployment crisis, salary freezes and reductions in pay for the global…
Most supply chains were created based on the infrastructure and needs of each company, seldom were they created keeping in mind the needs of customers. The time has arrived where companies need to redesign and segment their supply chains based on the needs of their Key Customers. This is easier said than done as this will need identification of Key Customers, building strategic relationships with them, ushering in flexibility in the supply chain to incorporate necessary changes and sharing benefits with the customer.
The next decade will experience increasing volatility and complexity in the business environment and specifically in the demand of consumer and industrial items. Structured and regimented supply chains will not be the best suited to deliver necessary service and costs in such an environment. The need for the times would…