■ Supply Chain & Logistics
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As long as farmers are still farming , truckers driving , packages are being packaged , and therefore delivered , you still have a supply chain .
Photo : Getty Images / iStockphoto
Photo : Getty Images / iStockphoto
Post-COVID‐19 , a key part of big data is not only data collection , but also data interpretation or analytics , which highlights a growing need for a talent to interpret the data and make effective decisions . The need for knowledge workers to analyze the data is ever more critical . Social media is a way of distributing key information and again , during a crisis , the role of social media can be extremely important .
There is clearly going to be a demand for an ability to understand the responsiveness of the supply chain . Supply chains that are elastic in nature and can re-tool to cope with the unprecedented demand and changes are going to be successful . Those supply chains with efficient models for distribution will emerge as leaders . Essentially , the existing supply chain must be re-allocated and , since we are dealing with out-of-the-normal behaviors , this might pose a challenge . We also do not have a lot of time to analyze the trends as they are constantly shifting
“ By remaining in constant contact with manufactures and suppliers , one can ensure that products will keep moving efficiently through the supply chain and there will not be an excess build up .”
in response to the behaviors . Eventually over time , as long as farmers keep farming , truckers keep trucking and manufacturers produce , the supply chain will reach an equilibrium .
Related to this is communication in the supply chain . As people rush to buy food and other nonperishable items , the big consumer goods companies are trying to meet demand without needlessly ratcheting up production . Ratcheting up production is another way of introducing the “ bullwhip effect .” The bullwhip effect occurs when orders sent to the manufacturers and suppliers create larger variances or “ waves ” than the sales to the end customer . This variance can have a negative impact on the smoothness of the supply chain process as each link of the supply chain will over- or underestimate the product demand resulting in exaggerated fluctuations .
By remaining in constant contact with manufactures and suppliers , one can ensure that products will keep moving efficiently through the supply chain and there will not be an excess build up . People only need so much paper towels or shelf-stable goods . Eventually , they start shopping in their own basement supplies rather than shopping for more in stores , and demand will fall . Companies must be mindful of hiring more staff to ramp up production .
Supply chains with efficient models for distribution will emerge as leaders .
Photo : Getty Images / iStockphoto
Q . How will visualization software help the supply networks of tomorrow ? A . To think of how a supply chain works — think about it — not as a sequential chain but as a network . In a supply network , if one supplier is unable to supply ( a fire in the warehouse ), there are alternative suppliers to turn to . If one path / link goes bad , there are alternative paths . That is why network visualization might be helpful in this context . If one can see the extent of alternate paths , one can determine the robustness of that supply chain .
Q . Is a robust supplier-monitoring system that maps sub-tier dependencies a basic requirement for today ’ s supply chain and sourcing professionals ? In addition ,
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