With the abrupt disruption of global supply chains brought on by the COVID-19 pandemic, companies around the world have been faced with unprecedented inventory challenges that threaten their vitality.
In 2020, roughly 20% of United States retail companies that relied heavily on supply chains in China were suddenly finding it difficult to get their stock management under control. The pharmaceutical supply chains from India and China that made up for 90% of generic drugs taken in the U.S. were suddenly threatened as well. Many companies simply did not have the technological business solutions and digital infrastructure necessary to save them from going under, and instead were left with the harsh lesson of how fragile the global supply chain actually is.
The Value of Responsiveness in the Supply Chain
The United States is known for having one of the strongest consumer cultures in the world. From supermarkets to shopping malls, people have come to expect an abundance of options. However, with the unreliability of manufacturing and distribution overseas, many companies have had to reconsider the value of responsiveness and resilience over cost.
Companies that have typically opted for cheaper materials that take weeks to ship are now shifting their business models to focus on local solutions with shorter lead times. Warehouse management and ERP systems are crucial to making this a smooth process; responsiveness and capable business technology may be the key to keeping companies afloat.
Vaccine Manufacturing and Distribution
The supply chain of the COVID-19 vaccine has proved to be a challenge in a variety of ways. Poor inventory management has led to inadequate storage, transportation, and personnel capacity. These problems can lead to major bottlenecks and the disposal of valuable vaccine doses that never had the chance of making it to their destinations. The number of human lives that could have been saved is a high price to pay for unnecessary delays that could have been avoided through the use of an effective ERP system.
In today’s unpredictable economy, having an ERP system to support your business amid the disruption in supply chains around the world is absolutely essential. In 2021, companies in manufacturing and distribution have no choice but to adapt to the continued challenges brought on by the coronavirus pandemic.
Attivo All-in-One is a powerful software solution that can contribute to the resilience of your company in 2021 and beyond. With unlimited ongoing support, leading-edge security, and personalized online learning systems at no additional cost, Attivo All-in-One can be fully functional in a matter of weeks with a specially designed, automated implementation process.
Click here to learn more about how Attivo All-in-One can help your company harness technology for effective manufacturing and inventory control.