The New Reality for Chief Supply Chain Officers
Chief Supply Chain Officers' Challenges – 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
Company:
Boston Consulting Group (BCG)
Category:
Supply chains
Source:
- The New Reality for Supply Chain Officers (Boston Consulting Group)
Original publication date: May 14, 2020
Date last updated: June 23, 2020