Stephanie Krishnan, IDC Asia/Pacific’s Research Director for Manufacturing Insights, talks about how to handle disruptions brought about COVID-19 in Digital Manufacturing in this online presentation.
The impact of COVID-19 has moved well beyond China. The WHO has declared the US as the global epicenter with having more than one-third of the total reported cases.
Approximately half of the world’s population is in some sort of lockdown. As a result, global supply chains have been immensely impacted.
While some organizations have systems that enable full supply chain visibility, a majority of companies do not. Missing or late materials cause further delays in the whole operation. As such, opportunities are lost due to the lack of connectivity.
The COVID-19 pandemic presented opportunities for organizations to build their short-, medium-, and long-term supply chain resilience.
In the short-run, selecting suppliers that have increased supply chain visibility and reduced impact on supply is critical. For the mid-term, it is vital to look for opportunities to build-in resilience and shortlist vendors that enable visibility in both supply chain and transportation and optimize factory locations. Finally, for the long-term, Stephanie Krishnan, IDC’s Asia/Pacific Research Director for Manufacturing Insights, has proposed the following:
Travel restrictions and lockdowns are in place across multiple countries. With that, there is also an opportunity for companies to reevaluate capabilities and technologies. Below are some key areas that companies can look into as well as the corresponding action items.
Indeed, COVID-19 has tremendously impacted the manufacturing industry among others. If you want to watch Stephanie Krishnan’s entire presentation on this topic, check out this link.
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