New management of supply chains

FE Team | Published: August 24, 2020 20:25:11

The Covid-19 pandemic has changed business environment for many organisations, creating compulsion for adapting new crisis management mechanisms to overcome uncertainties. Companies no longer have the luxury of using conventional supply chain - apart from ensuring emergency supplies, they need to plan for establishing new supply chain process for post-pandemic situation. Companies of other countries have revised their operational strategies and Bangladeshi companies would need to do so.
Thus, companies need to adjusttheir policies and contracts with suppliers to address possible disruptionsin supply. They also need to develop better forecasting system for demand and production to minimise gap. Compliance of vendors in a new situation may be an issue. Companies need to decentralise warehouses to ensure uninterrupted supply and automation should be adopted for smart management. They can do business both offline and online.
Md. Mohsin Uddin Fahim
Industrial Engineering & Management
Khulna University of Engineering & Technology
mohsinfahim010@gmail.com