Global supply chains began to feel pandemic effects in earnest by March 2020. Third and fourth-tier suppliers, anonymous and reliable, brought chaos to worldwide supply chains through unexpected closures. Supply chain management and stability, traceability, and transparency issues were immediately exposed.
There is a growing awareness and need for supply chains to be more flexible in order to react and adapt quickly to sudden disruption. In the mentioned above study by the Capgemini Research Institute, 68% of organizations have said that the current crisis has forced them to adapt their business models, and 62% said increasing supply chain resilience post-COVID-19 is a top priority. In order to achieve resistance and recovery capacity, supply chains will need to build three critical components which are:
- Visibility and end-to-end shipment tracking;
- The velocity with the real-time flow of information;
- and responsiveness to quickly act on the insights that are presented by the data.
2020 has brought constant change and unpredictability, but companies with resilient supply chains will be more successful and able to make the greatest impact.
When your operations are on the line, choose the end-to-end partner that built its name on reliability and integrity.
Changes in Preferences and Supply Chain
Changes in customer preferences, economic situations, and a global pandemic are changing the way we shop. A study by Criteo named Peak to Recovery revealed that only 64% of people miss going into physical stores and 88% plan to continue purchasing gifts online and sending them to recipients. But despite the impacts the pandemic has had on all of us, research by the Boston Globe predicted that people would still do their Christmas shopping – just not in the same way or on the same scale as in previous years. A survey showed that 3 in 10 shoppers said they would start their holiday shopping earlier than usual in 2020.
Industrial Landscape and Supply Chain Management
In today’s industrial landscape, every part—and every second—matters. Yet, too many operations are stuck in the “multiple supplier” model of the past, which makes it more difficult to get the job done right. With Prismecs, industrial teams finally have the reliable end-to-end partner their operations deserve.
Prismecs has a track record for delivering turnkey supply chain management and engineering solutions in some of the world’s toughest industries. As you read this, our team’s industrial solutions are fueling operations in key global markets. Our experience in oil and gas and metals, mining, and cement gives us an in-depth understanding of these industries’ unique requirements. We combine our experience in key industrial sectors with domain expertise that exceeds expectations. From turbine engineering and project procurement to systems engineering and manufacturing, trust Prismecs to deliver effective, customized solutions that maximize uptime.
Explore Prismecs’ supply chain and engineering services by industry and domain.