The COVID-19 crisis has caused significant impact on how businesses are being run. As a result, businesses need to consider supply chain implications to ensure minimal impact on operations led by curtailed manufacturing and weaker demand.
Here’s how you can HALT and review your supply chain function and strategy
As supply chain strategy is directly linked to business value chains and market forces, it is critical for organisations to revisit their supply chain function.
- Conduct risk assessment across your current supplier portfolio: Identify key suppliers to understand their ability to meet your requirements
- Identify alternative suppliers and raw material: Consolidate your suppliers, analyse similar businesses and plan sourcing of alternative raw materials
- Track production planning through scenario building: Assess key products and plan a strategy to source raw material for producing these products
- Estimate available inventory across the value chain: Estimate value and volume of existing inventory and leverage the data to accordingly plan your production
- Estimate for unavailable workforce: Take real-time stock with mandatory health check-ups for the entire on ground workforce and assess impact of affected workforce
… and many more.
Grant Thornton’s business consulting team can help you navigate your key supply chain implications