The active management of supply chain operations to enhance value for customers and establish a sustainable comparative benefit is known as supply chain management or SCM. After obtaining a supply chain management degree and achieving supply chain management certification, you can join the SCM organizations.
Nowadays, the global epidemic of COVID-19 has created substantial difficulties to supply chains management. Several nationwide lockdowns keep stifling or even halt the flow of finished goods and raw materials, causing manufacturing disruption. The epidemic, on the other hand, hasn’t necessarily brought any current supply chain difficulties. COVID-19 exposed previously unknown weaknesses in specific sectors. And it has, of course, resulted in employee shortages and losses for many companies. However, it has exacerbated and hastened issues that existed already in the supply chain.
Following the significant disruption caused by the COVID-19 epidemic, a poll revealed that US businesses intend to rethink their supply chain strategy to become more collaborative, resilient, and connected with customers, suppliers, and other organizations. To do so, they’ll invest more in supply chain technology like robotic process automation and artificial intelligence and retrain employees.
Impact or challenges in supply management during Covid-19
The epidemic had a significant negative impact on supply chains. Some specific industries suffered worse than others, while some life sciences firms had little effect. The COVID-19 outbreak wreaked havoc on the world economy, financial, health, and education systems, along with companies and communities, such as several others in the last century. Only 2% of firms responding to the study indicated they were able to handle situations for the epidemic, which is unsurprising.
Companies frequently reduce technology spending to a trickle in unpredictable financial situations. However, the benefit of a digital supply chain in assisting businesses in navigating unexpected pressures and responding more quickly to variable demand and supply was demonstrated during the COVID-19 pandemic.
During the epidemic, the industry got some clear winners, claiming positive impacts such as launching new products and boosting clients’ demand. These organizations were primarily in the life sciences field, and the beneficial effects may be significant since the items they manufacture are necessary. Several biosciences businesses had to ramp up their efforts to develop critical new goods, like COVID-19 vaccinations or testing, due to the epidemic. Other industries, notably consumer goods, struggled to keep products on the market in the initial periods of the outbreak due to a solid need for flour, canned goods, toilet paper, and other essentials.
Impact or challenges in supply management after Covid-19
Supply chains are about to undergo substantial improvements. According to the supply chain study of Executives, efficiency, visibility, and resilience in the supply chain are all priorities. These conclusions are unsurprising since supply chain cost optimization will always remain a concern, even though greater strength is built out.
Digital and automated supply chains management are the way of the future. Numerous previous tendencies have increased as a result of the epidemic, including those in the supply chain. According to 64% researched of supply chain executives, the pandemic will hasten digitalization. However, merely implementing new technologies is insufficient to create a modernized, automated supply chain. It also requires linked supply chain technology that functions outside the company’s four walls in planning, accumulation, construction, and transportation. It’s the distinction between being digital and doing digital.
For a few companies, challenges in supply chain management during covid-19 may be optimistic. But for most companies, it is really challenging. However, safeguarding, reskilling, and retraining the workers as well as investing in the automated supply chain are top priorities throughout the board.