Boston Consulting Group developed infographic summarizing actions for Chief Supply Chain Officers to deal with new reality posed by COVID-19

Summary:

Boston Consulting Group created infographic about new reality Chief Supply Chain Officers face due to COVID-19 and how to position their organizations for recovery. Some recommendations include:

• Understand New Reality – Chief Supply Chain Officers have to deal with uncertainty caused by COVID-19 such as changing buyer patterns, greater economic volatility, and different views on duration of pandemic and impact
• Create Greater Visibility – Build complete end-to-end visibility in supply chain including from customer to supplier to make decisions, while creating governance structure to address issues
• Reprioritize Capabilities – Prioritize processes including sales and operations planning (S&OP), demand and replenishment forecasts, while redesigning other procedures for more flexibility
• Integrate Business Relationships – Work to connect supply chain across suppliers, vendors and customers by integrating planning efforts and updating stakeholders with demand and supply to improve forecasting
• Reduce Complexity – Focus on select products, reduce low-volume stock keeping units (SKUs), streamline locations where SKUs are held, and increase factory efficiency
• Identify Risk Strategy – Address potential risks through contingency planning, increase flexibility with automation and agility, plus decrease costs and shift them towards innovation and growth

For more information, visit https://www.bcg.com/publications/2020/cscos-transform-operations-post-covid-19.aspx

Original publication date: May 14, 2020

Date last updated: June 23, 2020