SOLUTIONS-DRIVEN TECH
“ COVID has not created new problems , so much as it has exposed existing problems and made them worse ”
“ In order to build agility in the supply chain , companies must use technology that helps companies work smarter and more efficiently . The COVID crisis has resulted in massive swings in demand , testing the limits of supply chain resiliency worldwide . The organisations with the smartest supply chains will be the ones that survive and prosper . In many respects , COVID has not created new problems , so much as it has exposed existing problems and made them worse . When slow-moving inventory starts to pile up , for example , agile companies will recognise the problem quickly and proactively disposition the product in order to avoid losses .” Sanjiv Gupta , CEO of OpsVeda told Supply Chain Digital .
And the challenges aren ’ t likely to stop coming . With increased supply chain disruptions come hefty fines and chargebacks . Organisations have had to learn to pivot on a dime and increase efficiencies while doing so , and new tech is helping them get there .
SOLUTIONS-DRIVEN TECH
Leverage today ’ s technologies to create solutions-focused digital strategies that help eradicate the symptomatic ‘ Justin-Case ’ ( JIC ) behaviours brought on by supply chain disruptions while circumventing labour issues and avoiding the high costs of human error .
On 1 September , 2020 , Walmart issued a memo , effectively giving its massive supplier network two weeks notice on their newly adjusted service requirements and penalties . As of September 15 , 2020 , Walmart now requires a 98 % deliver on-time and in-full ( OTIF ) compliance rate from its suppliers and has implemented a fine of 3 % of the cost of goods sold .
“ COVID has not created new problems , so much as it has exposed existing problems and made them worse ”
— Sanjiv Gupta , CEO , OpsVeda
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supplychaindigital . com