September | 2020
According to World Bank forecasts, the global economy will shrink by 5.2% this year. That would represent the deepest recession since the Second World War, with the largest fraction of economies experiencing declines in per capita output since 1870. Economic activity among advanced economies is anticipated to shrink 7% in 2020 as domestic demand and supply, trade, and finance have been severely disrupted. Emerging market and developing economies (EMDEs) are expected to shrink by 2.5% this year, their first contraction as a group in at least 60 years. While some results of the pandemic on individual companies are hard to totally avoid, some were self-imposed and avoidable. This was the result of several factors:
Companies need to address the following shortfalls to get past the next disruption, which is sure to hit.
There has been a renaissance of sorts in SaaS planning platforms in the last several years. It addresses ERP shortfalls and is capable of addressing the problems discussed above. These transformative changes provide the visibility of supplier operations and inventory. Essentially, they provide a digital twin of a company’s manufacturing operations, allowing for a fast and efficient concurrent planning scenario to solve complex problems. One such platform is Kinaxis.
It’s a single integrated tool, allowing for visibility across your supply chain that performs with a concurrent approach to planning, eliminating silos, and facilitating fast decision-making in times of disruption.
As companies learn the lessons from this most recent pandemic, we expect to see planning tools similar to the one above that help to mitigate even the most serious supply chain disruption in the future.
Watch our webinar: “ Managing and Mitigating Supply Chain Risk – A Wipro and Kinaxis Perspective” for more details.
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Domenic J Champa
GTM Practice Head Americas - Supply Chain, Wipro Limited.
Domenic has 25+ years’ experience in business transformation, process improvement, and supply chain strategy, specializing in Manufacturing, Planning, Procurement, and Network Design. Dom is experienced in ERP systems, both on premise and SaaS to facilitate transformative change.
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© 2022 Wipro Limited |
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