With the coronavirus pandemic and its lingering effects, companies have now experienced how challenging it can be to plan and maneuver their supply chains around uniquely disruptive, once-in-a-lifetime events. But the unfortunate truth is that less severe events overwhelm or undermine supply planning all the time. Legacy tools are no longer up to the task of getting supply where it is needed most.
The coronavirus pandemic has had a huge impact on global risk-management strategies. Many companies learned in 2020 that their supply chains weren’t prepared for a disruption of such massive scale. Now, they’re determined not to get caught short again.
Ever since access to ubiquitous real-time data emerged as a technological reality, businesses have been lured by the possibility of redirecting their supply chains toward a model driven by demand. Applying analytics software to make sense of big data could allow organizations to close the gap between demand and supply.