The Coronavirus Crisis has been tragic for many people and an unprecedented shock to the economy. Logistics and distribution networks have been severely disrupted as many businesses and retailers have closed their doors. There are, however, signs of improvement, and logistics companies like global warehouse solutions are looking at ways to efficiently bounce back.
Many economic activities have been suspended causing massive disruptions as operations have stopped. But this has highlighted weaknesses in the system that logistics companies are learning from.
Cash strapped companies need to prioritize upon the restart. Cash generation, profits and time, and strategic commercial planning will all be crucial short-term.
Capacities And Capabilities
Companies must assess their capacities and capabilities to restart after lockdown, who to mobilize and when, what is their commitment to resources, and what funding is available.
Upon restart, cash allocation must be carefully allocated for efficiency – utilize buy-back opportunities for inventories and prioritize logistics costs.
Organizational Decision Making
The restart needs to be coordinated and seamless. Simplify decision making processes across the supply chain to increase the speed of real-time operations.
Procurement And Manufacturing
Logistics teams should coordinate closely with procurement and manufacturing to ensure transportation and distribution are supported upon restart. Logistics risks should be reduced as far as possible.
For optimal efficiency, the market should be assessed before restart to ensure distribution can cover demand. Adequate assessment and strategy are crucial.
The Control Tower
Control towers must gather data and optimize inventory facilities, logistics networks, and secure implementation outcomes of the restart plan. This will promote a resilient supply chain going forward.
One thing you can control during this time is the logistics company that you trust to keep the operations of your business running smoothly. Global Warehouse Solutions has been working diligently to make sure our client’s operations are not negatively affected during this time. Contact us today to learn more.