How to treat supply chain processes at Coronavirus outbreak
World-changing events happen unpredictably and impact every aspect of our life and business. Right now, pandemic is having an effect on slowing economic development. To several businesses around the world, the most important factor from the COVID-19 outbreak's first twelve weeks has been the impact on supply chains that not only originate in or go through China but also local.
Companies need to tackle supply chain issues in addition to tackling volatility in supply-chain challenges. We are now seeing businesses with structured procurement departments and strong supplier relationships feel more positive in their perception of the threats these suppliers face.
From our experience, there are 4 of Expedite's most valuable resources that can support wholesalers, manufacturers and distributors of all sizes. We describe them here as supporting leaders who nowadays are going through crisis management for their companies.
#1: Safety Stock Management :
However, the present moment is one of the few instances where our best practice recommendation is to turn to the demand experts in order to direct the software towards optimal business decisions before, during, and after the rise in demand. There is no program, no matter how advanced, that is capable of automating calculations precisely when there is no historical case on which to base the predictive model.
#2: Managing Inventory- Inter Store Transfers :
Streamline will leverage your inventory internally by removing frozen money, and replenish your locations using your own overstocks instead of having even more replenishment orders from your manufacturers or distribution centres.Thus, while awaiting the next order delivery, you will be able to respond to demand peaks in different areas using your current stock.
#3: Forecast override :
Demand forecasting, inventory planning and replenishment, review, KPIs Report, KPI Dashboard are all processes set up in one location making the task much easier and reduces manual work.When planners have tools at their fingertips to help them make the best decisions as quickly and effectively as possible the company would be more confident about this outbreak.
#4: Integrated Demand and Inventory Planning :
Demand forecasting, inventory management and replenishment, review, KPIs Report, KPI Dashboard are all functions set up in one location making the process much easier and reduces manual work. When managers have tools at their fingertips to help them make the best decisions as quickly and effectively as possible, the company will be more confident about this outbreak.
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