By Nick Reonegro, Senior Supply Chain Professional Execution
We have all seen dramatic shifts in the way consumers are buying just about everything. From groceries to slippers, to new cars – the “demand” is there – but the way it’s being met is very different from a supply chain perspective.
When we talk about a “transaction” for consumer goods, a physical product(s) changed hands, ie: a shirt, a pallet of orange juice or a 40′ container of toasters. If you run a business that sells products, the nature of those transactions has surely changed dramatically over the past 6 months.
What will the “new normal” be? There is no universal answer. We can predict consumer behavior to a certain degree, but let’s all remember that the only thing we know with certainty about any forecast is that it is wrong.
The way your business will be transacting in the future is something you need to give some serious thought to. Your supply chain will probably need an overhaul – or at least some tweaking. Ask the right questions on what the need will be, and it will pay you dividends will into the future, because you will have designed the proper way of handing the transactions. And remember to stay flexible, because your prediction for the future is not going to be 100% accurate.
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