Supply Chain Management Practices
Certainly maintaining Supply Chain Management practices is very challenging during the Coronavirus times. That is to say, the way Coronavirus is spreading and the intensity of the pandemic; it will have lasting affects and will take time to diminish. Therefore businesses and retailers should be ready to implement effective and combative Supply Chain Management practices to deal with tough times successfully. Certainly, the options become limited once the situation becomes out of control. However, measures can be taken now, regarding Supply Chain Management Practices, although retailers and businesses might find this difficult and might not be prepared for it.
Ways to implement Supply Chain Management Practices
The uncertainly that comes along this pandemic certainly prepares us for the coming crisis. Therefore let’s see what the practices are that businesses can follow to secure their Supply Chain Management.
Take care of the Supply Chain Management Employees
Certainly, employees are critical for the business and their welfare is significant for retailers. Therefore taking care of the employees comes first. So the situation certainly requires rethinking employee working hours. That is to say, employees come first. Consequently, their convenience and ease should also be considered important. In other words, if they cannot travel and are not able to reach offices due to lockdown, their convenience should be prioritized first. So the Supply Chain Management practices should be planned according to the availability of the employees and their working patterns.
Prepare your Business with effective Supply Chain practices for unforeseen Impacts
Certainly, businesses should be prepared for the worst. Most importantly, when there is uncertainty regarding suppliers. Subsequently, inventory levels are not that high. Everyone is influenced by the current situation. Therefore even the suppliers might also face unexpected challenges. So businesses might suffer a shortage of material and components. Therefore businesses should assess and be prepared for such situations. As a result, retailers and other businesses should ensure that they do not run out of material in such critical situations. So they should take essential measures beforehand to ensure the safety of the Supply Chain.
Emergency Operations Centre for Supply Chain Management
Many organizations these days have an Emergency Operations Centre. Certainly, emergency operation centers are essential for businesses and companies. Further businesses should have action plans ready for coordination, assign roles for members in critical business and supply chain situations. Further effective and rapid decision making should be promoted. Moreover, the emergency plans relating to customers and the suppliers should be ready.
Know the Supplier & Remain in Contact
Businesses and retailers should be well aware of their vendors and suppliers. That is to say, they should not entirely depend on their employees to manage their suppliers. In fact it is better if they involve themselves in all their matters. Businesses that do not keep the detail of their matters, suffer miserably in times of crisis. Therefore retailers should develop friendly relations with their employees even before such calamities take place because once a calamity befalls; it becomes late to manage things.
Prepare and Plan Supply Chain Practices based on Experience
The impact of Coronavirus on businesses is severe. That is to say, through this uncertain and unexpected situation, businesses are going through different experiences. Consequently, they are learning about things regarding their business which they need to utilize for their benefit. That is to say, they can use this knowledge to further make plans for the coming events. In other words, this situation seems to remain in the coming months or it may even become worse. Therefore retailers need to keep themselves prepared for unforeseen events. They can make their plans and strategies and implement them at the right time to manage crisis in an effective manner.
Conclusion
The Teranoid team realizes that it is impossible to avoid situations such as the Coronavirus. However, organizations can work effectively in such times if their Supply Chain Management Practices are running smoothly. Therefore it is better if retailers aref prepared in advance for such calamities. Further, they can keep modifying or make new strategies based on the situation and the density of the pandemic.