Whether the cause is uncertain demand, shipping disruptions, nonoperational suppliers, or volatile costs, supply chain disruptions have become standard – and waiting for a near-term return to true “normalcy” is a failing strategy. To succeed, your organization needs a firm understanding of your supply chain capability, clear direction from leadership, strategic alignment among all departments, and decisive action. There’s no playbook on economic reengagement, but your instincts were spot on if you have already taken these actions:
- Formed an executive steering committee
- Evaluated current operating ability
- Found and started managing liquidity
- Assessed current needs and future demand
- Realigned your supply chain
- Executed hands-on supply base management
So, what do you do next? Here are three key strategies for business success in the next two to three months.