The chain that was losing grip

The pandemic had multiple adverse effects on the world and businesses operating within the globe.  The business was brought to a pause by the catastrophe that hit the world in 2020. The SMB market started going downhill as well, weakening the supply chain on a global basis. 

Shops had to be locked and the shutters of small and local businesses had to be pulled down in an effort to prevent the virus but the loss that came as a consequence was incredibly damaging for businessmen. 

However, every tragic event has a silver lining that should not be overlooked. The loss that the pandemichad inflicted on the market had its lessons to teach and the businessmen had to learn it the hard way. 

A few important business lessons to be learned from post-pandemic : 

• Being geographically strict does not help 

The fact that nations are interdependent for holding up the supply chain cannot be altered. But in a new normal where transportation and business imports and exports are not encouraged, it is better for businessmen to rely on local manufacturers for keeping the supply chain running. 

• Meek transparency 

Transparency happens to be a crucial factor in business and manufacturing. The process of manufactory passes through several layers and it is very important for these layers to have a proper interconnection. Lack of transparency is likely to cause disruptions. 

• Being alert 

The quality of alert is the most cherished in a supply chain. A manufacturer should not only be diligent but also be alert about the immediate needs of the consumers and customers. Demands for things may they be the daily essentials or party wears, keep rising and the marketers need to be quick at their deliveries. Creating an inventory that holds the records of all the orders items by customers on a specific date and time can be prone to disruption.

• Employing and deploying new strategies 

The strategies that worked prior to the pandemic need to be revisited and updated. Manufacturers are expected to churn out new ways to speed up product manufacturing so that the heavy demands from customers and consumers can be met in a brief period of time. 

The lessons signal towards Digitalization

The blow inflicted by the pandemic has taught us the most important lesson of digitalization. Jennifer Pilat harps on digitalization being a crucial part of the supply chain process as well. 

The supply chain was slowed down post-COVID because of a reduction in workforce and job losses of people. It had to be operated with a skeleton crew. 

Enhancing the digitalization aspect in the supply chain which can be used for crafting digital inventories, tracking systems of products, the routes that they travel by, and providing an access to the customers to track and learn the status of the products or items they have placed an order for, can help to resolve all the problems of transparency, curtailing pressures on manufacturers along with curtailing frauds.