5 Lessons Supply Chains are Learning Because of COVID-19

IDC’s Global Manufacturing Insights team organized a webinar about the implications of COVID-19 on supply chains worldwide.

Facilitated by Dr. Chris Holmes, Asia/Pacific Managing Director for IDC Insights, it featured Simon Ellis (Program Vice President, Supply Chain Strategies, IDC USA), Stephanie Krishnan (Research Director, Manufacturing Insights, IDC Asia/Pacific), Jan Burian (Research Director, Manufacturing Insights, IDC EMEA), and Remy Glaisner (Research Director, Robotics, IDC Worldwide).

Below are some key insights:

Firstly, bringing together multiple technical capabilities increases manufacturing flexibility and resilience. Speed of information and visibility into unfolding circumstances is key to becoming first-mover advantage.

Secondly, supply and demand visibility is essential to driving intelligence that can drive fast decisions. Being able to look into the supplier network and source for essential components drives value.

Thirdly, stand-alone automation achieves some level of efficiency, but integration will drive supply chain benefits. Use of AI or rules-based algorithms can automate transactions to optimize process outcomes.

Fourth, collaboration with supply chain partners is key in turning data into actionable insights. While diversification benefits have been limited, real-time collaboration has born fruit.

Finally, the ability to leverage plans, structural capabilities, and ecosystems in crisis situations has made a difference. Having plans for crises is still an advantage when it comes to reacting quickly and creating opportunities

Itching to learn more? Watch the entire webinar on how COVID-19 impacted supply chains globally here:

Want to read up on more COVID-19 related research? Check out our microsite.

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