Bain & Company shared how agile and resilient strategies that worked during coronavirus outbreak can be adapted in recovery phase

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The “New Normal” Is a Myth. The Future Won’t Be Normal at All

Adapting COVID-19 Strategies for the Future – Bain & Company shared how agile and resilient strategies that worked during coronavirus outbreak can be adapted in recovery phase

Summary:

Bain & Company published article for adapting strategies made during COVID-19 outbreak into post-crisis world. Summary points include:
  • Extend Digitization for Recovery – Extend automation and digitization, and reshape them for post-COVID-19 by redesigning work and processes in way that creates greater value
  • Retain Flexibility and Agility – Make innovation, agility and resourcefulness established during crisis a norm in organization by scaling technologies, creating broader vision for digital transformation, and prioritizing investments in technology across customer-facing and and back-end processes
  • Increase Supply Chain Resilience – Create more flexible networks of suppliers and partners, move some manufacturing operations onshore or near markets, and use Industry 4.0 tools such as control tower solutions to optimize cost, boost visibility and reaction times
  • Streamline Products – Reduce stock-keeping units to profitable products, balancing new opportunities by considering revenue potential with required complexity
  • Adopt Agile Methods – Continue agile cycle of testing, learning and adapting strategies by experimentation to drive innovations forward, and deploy them in short sprints than annual and three-year plans
For more information, visit https://www.bain.com/insights/the-new-normal-is-a-myth-the-future-wont-be-normal-at-all/
Company: Bain & Company
Categories: Business operations, Strategy, Supply chains

Original publication date: June 5, 2020

Date last updated: June 16, 2020