Global product makers have to be as agile as possible to implement strategic changes in their supply chains to embed resilience, sustainability, and reduce risks of disruption. And, the supply chain professionals and leaders will have to continuously learn, transform, and adapt to new strategies and solutions. They need to be aware and ready to use new digital tools that support resilience, sustainability, and de-risking of supply chains while developing an end-to-end understanding of their role in the supply chain organizations they work for.
Based on feedback, interview surveys, and event interactions with over 10,000 supply chain professionals, during 2020-2022, we have mapped several megatrends that leaders who are ready to navigate the complex supply chains of this decade will need to master. They can be categorized into three main clusters: Functional Skills, Business Skills, and Leadership Skills.
The bullwhip effect created by significant fluctuations in demand, triggered by disruptive events such as the pandemic in 2020, inflation in 2022, etc., continues to create turmoil in the supply chains. The bullwhip effect refers to a scenario in which small changes in demand at the retail end of the supply chain become amplified when moving up the supply chain from the retail end to the manufacturing end. It can lead to excess inventory, lost revenue, and overinvestment in production.
It’s no surprise that a few of the most important Functional megatrends are: Strategic Sales and Operations Planning (S&OP), Shifting Consumer Demands and Market Demographics, Supply Chain Resilience, and Demystifying Omnichannel Fulfilment & E-commerce.
An organization’s ability to learn and adapt quickly to volatile market conditions, or to a newly transformed working model, can be a significant competitive advantage. Setting a common foundation, adapted to current reality, within the supply chain organizations, and supporting functions would be the first step in a successful learning journey.
We hope learning offers you tools in your day-to-day work and is part of your resolutions for 2023.
Alcott Global Team
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Copyright © 2019 - Alcott and Robson Singapore PTE. LTD.
Copyright © 2019 - Alcott and Robson PTE. LTD.