- 2022 is a key year for supply chain managers to begin wisely advocating for supply chain resilience. Companies focussed on implementing this may be seen to be investing more time and money into prioritising resilience and agility into their supply chain.
- To enable business to be flexible and adapt to changeable inventory management plans, digital transformation will play a key role, and will allow organisations to respond to unprecedented market changes and short-term supply chain disruptions. Additionally, this will simultaneously allow many companies to build a more sustainable and robust supply chain for long term profitability. This improved capability for managing demand forecasting and planning will play a crucial role universally for supply chain strategies, in terms of ensuring stock availability and being aware of upcoming demand so they can order accurate quantities and run their businesses cost efficiently. Sophisticated demand forecasting can be achieved by introducing software and artificial intelligence to allow for planning around seasonality, trending new items, or those nearing the end of their product life cycle.
eCommerce and online retail boomed during the pandemic, and in the aftermath of Covid, the demand is not showing any signs of slowing down. These business, when successful are more than simply a website and online presence. They rely on
resilient and efficient supply chains, and so businesses’ supply chain teams have wisely invested in tools that boost their ability to increase stock availability and meet their customers’ growing demands for accurate and speedy delivery. Furthermore diversification, for example to expand delivery and supply to different regions to other parts of the world, allows companies to mitigate any risks that are region-specific. In both cases, the aim is to strengthen their supply chain and have options to help address any future supply issues.
