What is a supply chain strategy?
A supply chain strategy is a formal plan concerning decision-making around the structure and processes of a supply chain over a time period.
6 Ways Supply Chain Strategies have Evolved since the COVID-19 pandemic
The evolution of supply chain strategies since the onset of the COVID-19 pandemic
Wider adoption of integrated supply chain networks
Logistics players have been largely moving from linear supply chain networks towards integrated ones that connect many players. As a result, there has been an increasing need for end-to-end visibility.
Large scale reskilling of workforce
Businesses are planning to reskill their workforce to leverage digital technologies like Artificial intelligence (AI) and machine learning and improve productivity through virtual collaboration.
Higher prioritization of sustainability goals
With greater expectations of customers and employees around sustainability practices, green logistics is here to stay. Businesses have started to refocus on setting up micro-fulfillment centers and use eco-friendly vehicles to carry out sustainable logistics for their customers.
Higher adoption of AI and digital technologies
The onset of COVID-19 has accelerated the deployment of AI, predictive analytics and digital technologies across supply chains from end-to-end in order to make faster and effective business decisions.
Bringing greater agility and flexibility to supply chains
At the beginning of the pandemic, companies struggled to manage the volatility around customer demand. With machine learning and predictive analytics, companies are deriving early insights on demand flow across different supply chain touchpoints. This helps them to recalibrate supply chains to changing customer demands.
Prioritizing resilience and stability
Since the pandemic, companies are looking to partner with suppliers who have flexible and resilient processes to ensure supply continuity. They prefer warehousing and inventory banks over Just-In-Time (JIT) inventory to protect against shutdowns.
All-Mile delivery: Translating supply chain strategy into profitable results
The test of a supply chain strategy’s success is in its ability to successfully handle all-mile deliveries. To that end, delivery logistics software enables businesses to craft the ideal supply chain strategy to drastically improve their on-time delivery rate and other crucial logistics parameters. Teaming up with the right tech partner like Locus helps businesses to handle the nitty-gritty of all-mile logistics effectively.
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