After Covid-19 pandemic, nothing will be the same for Businesses. To adjust to the "new normal" companies will adjust the way they manage their supply chain.
*Automatization and Digitalization. Business needs to prepare to invest in IT and have systems in place to mitigate impact from labor force disruption. Invest in the digital transformation.
*E-commerce. Demand for purchase on line will continue to boom due pandemic lockdowns.
*Increase inventories. Depending on your industry inventories could increase as a result of demand decline. Or as strategy of building inventories for emergency stocks. JIT (Just In time) will be less popular as companies will try to keep larger safety stocks on hand to avoid disruption on supply.
*Warehousing. Due rising inventories and need of social distances between workers, the need of third party warehouse will be necessary to accommodate rising inventories. Manufacturers are also looking for ways to increase their production space.
*Evaluate supply chains. Reduce reliance on global supply? Have more than 2 approved suppliers? Consolidate production sites?
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