{"id":306,"date":"2020-10-18T04:44:51","date_gmt":"2020-10-18T04:44:51","guid":{"rendered":"https:\/\/www.cac.net.in\/blog\/?p=306"},"modified":"2020-10-13T04:47:05","modified_gmt":"2020-10-13T04:47:05","slug":"why-you-need-help-of-inventory-management-experts-to-deal-with-post-covid-19-effects","status":"publish","type":"post","link":"https:\/\/www.cac.net.in\/blog\/why-you-need-help-of-inventory-management-experts-to-deal-with-post-covid-19-effects\/","title":{"rendered":"Why You Need Help Of Inventory Management Experts To Deal With Post- COVID-19 Effects?"},"content":{"rendered":"\n

COVID-19 has created problems in many industries where some\nof their skills have to be shaped while opening the door to a new world for the\nSupply Chain. <\/p>\n\n\n\n

The emergence of e-commerce and the birth of the digital\nevolution have been recognized as key factors in shaping the future of the\nSupply Chain. But the pandemic has greatly accelerated this evolution.<\/p>\n\n\n\n

Companies in various industries such as retail, consumer\nproducts, manufacturing and healthcare have recalled the vital role the\ninventory management plays in our business.<\/p>\n\n\n\n

Many employers are now realizing that the Supply Chain flow\nis not as resilient or strategic as they thought. Flexibility is the result of\nfour key supporting elements: strategy, organization, process and technology.<\/p>\n\n\n\n

Even with the right strategy and process management,\nbusinesses that weaken the role of organizational and technology elements will\nface great difficulties as they struggle in today’s business world.<\/p>\n\n\n\n

Experts underline that 30% of consumers will adapt to the\nnew buying behavior, which will be a permanent change in the market. <\/p>\n\n\n\n

The new supply chain era, accelerated by the pandemic and\npowered by the exciting advancement of technology, requires companies to\nrethink about their inventory management.<\/p>\n\n\n\n

In today’s world, inventory management companies<\/a><\/strong> are at the center of the business process and are key players in managing the top and bottom line of the business. <\/p>\n\n\n\n

Gone are the days when inventory management was seen as a\nsupport function for executing sales plans and overseeing logistics operations.<\/p>\n\n\n\n

The key to success for business leaders in making the right\ndecisions in the upcoming period is to acquire skills that will strengthen\ntheir business by always remaining agile.<\/p>\n\n\n\n

Companies all over the world are evaluating supply-demand\nplanning in three different stages to cope with this situation:<\/p>\n\n\n\n

  1. Before COVID-19<\/li>
  2. In the COVID-19 process<\/li>
  3. After COVID-19<\/li><\/ol>\n\n\n\n

    Like most countries, the COVID-19 phase has started in our\ncountry with the start of quarantine across Southeast Asia and Europe. During\nthis period, companies were mostly dealing with supply issues, with producers\nand ports being closed and shipping stopped.<\/p>\n\n\n\n

    Companies that successfully survived the pre-COVID-19 stage:<\/p>\n\n\n\n

    • Evaluating which suppliers will be affected when\nand making a decision accordingly<\/li>
    • Quickly identify and prioritize group A products<\/li>
    • Determining the level of inventory required to\noperate until the end of the quarantine, knowing its current inventory<\/li>
    • Creating budgets with financial teams to secure\nsupply<\/li>
    • They took actions such as moving their purchases\nto a later date and speeding up the process for containers still in ports.<\/li><\/ul>\n\n\n\n

      But at this point, it was still very difficult to determine\nthe extent of the crisis in companies. Quarantine is a surprise to many, but\nstarting the New Year in this way has made the job of planners even more\ndifficult. This situation caused difficulties in supply.<\/p>\n\n\n\n

      Due to the global impact of COVID-19, shipments have been\ninterrupted regardless of the supplier’s location. This situation reminded\ncompanies the importance of having end-to-end Supply Chain visibility once\nagain.<\/p>\n\n\n\n

      Moving the purchase date forward can be difficult for many\ncompanies, as it increases the amount of capital allocated to inventory. <\/p>\n\n\n\n

      Having enough working capital to remain agile while not\npurchasing large amounts to reduce the risk of idle stock has become even more\ndifficult due to the interruption of shipments in this process.<\/p>\n\n\n\n

      Therefore, in order to make a balanced decision, it has become necessary for companies to contact inventory management companies in India.<\/p>\n","protected":false},"excerpt":{"rendered":"

      COVID-19 has created problems in many industries where some of their skills have to be shaped while opening the door to a new world for the Supply Chain. The emergence of e-commerce and the birth of the digital evolution have been recognized as key factors in shaping the future of the Supply Chain. But the…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[9,8,40,37],"class_list":["post-306","post","type-post","status-publish","format-standard","hentry","category-inventory-management","tag-inventory-management-best-practices","tag-inventory-management-companies","tag-inventory-management-companies-in-india","tag-warehouse-inventory-management-system"],"_links":{"self":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/comments?post=306"}],"version-history":[{"count":1,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/306\/revisions"}],"predecessor-version":[{"id":307,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/306\/revisions\/307"}],"wp:attachment":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/media?parent=306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/categories?post=306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/tags?post=306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}