When it comes to supply chain visibility, predicting the future is hard – the world is constantly changing, consumer demand remains fickle, and there’s a plethora of new brands and competitors entering the market. How can companies plan ahead? Or can they?
When the COVID-19 pandemic hit, demand for some products skyrocketed. Historical demand planning tools and previous strategies didn’t apply anymore. Companies that thought they had it right when it came to supply and demand planning quickly discovered that they needed to deploy new strategies to establish and maintain a resilient, agile, and profitable supply chain. If not, their business would certainly be at risk.
As we think about important lessons learned from the past 24 months, it’s clear that investing in the proper tools and technology, establishing good supplier relationships, and retaining and re-skilling talent will be critical for success moving forward. While it’s impossible to predict the future, companies can certainly take the necessary steps to prepare to respond to whatever disruption arises – but only if they truly know their supply chain.
The COVID-19 pandemic was one of the greatest trend accelerators of our lifetime. For many companies, initiatives or plans that were on the back-burner suddenly got accelerated, forcing organizations to think and act differently in order to respond, adapt, and survive. In the next few episodes of Taking Stock, we’ll explore some of the recent consumer products trends that have emerged as a result of the COVID-19 pandemic.
Consumer Product Trends – The Need for Supply Chain Visibility: Taking Stock with Kate P. and Scott S.
In this episode of Taking Stock, I’m joined by colleagues Kate Poknis and Scott Shaw – who have a wealth of supply and demand planning experience and knowledge – to discuss supply chain resilience, agility, supplier diversification, talent constraints, and more.
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In this podcast series, Clarkston Consulting Partner Steve Rosenstock sits down with experts and thought leaders from both within Clarkston and throughout its consumer product, retail, and life sciences client-base, covering a range of topics from industry trends and consumer dynamics to organizational governance and business strategy. Steve provides you access into the passions of its guests and allows you to benefit from their stories, knowledge, and deep expertise.