One of the realities of running a supply chain business in the modern environment is that you have to expect and accept regular and rapid change. That has become a constant part of the business. COVID-19, however, was a sudden and dramatic curveball that took the entire world by surprise and was extremely disruptive for everyone. The impact on the supply chain has been incredible and intense. Fortunately, the leading companies with the right infrastructure, experience, and partners have coped remarkably well. 

How Did COVID-19 Affect Supply Chain?

While the pandemic has caused catastrophic human and economic suffering, it has had a massive effect on many essential services such as the supply chain. While countries around the world have done their utmost to slow and prevent the spread of the deadly pandemic, solutions are not always fast enough and rarely perfect. Every aspect of the supply chain has been hit and hit hard. We now operate in a global market but the impact of COVID-19 has resulted in major disruptions in local and particularly international trade. The reality is that many of the products that were affected by this sudden change are essential. The uncertainty and constant changes in rules and regulations made it almost impossible to run an efficient and effective supply chain. Some companies are more agile and were able to adapt faster than others. It was and still is extremely disruptive for the supply chain industry. 

Given that China was the epicentre of the pandemic and that they are one of the leading global suppliers of raw materials as well as finished goods, it was never going to be an easy ride. The result was a sudden and dramatic shift in markets. Supply was the first major shock. While many agile companies were able to adapt to the new logistic requirements, others were slower to evolve. The result was that some companies and markets had major issues, some that are still not effectively resolved a year plus later. 

Demand also changed dramatically. Many people stockpiled essentials and this changed all forecasts and prior behaviour patterns. All links in the supply change had to make rapid changes to accommodate this sudden shift in demand. While no company could have anticipated a global pandemic of this nature, it goes to show the importance of, among other things, supply chain companies that are able to adapt and change rapidly. This requires experience and expertise as well as the right technology and good partners. 

Team Up With The Best 

One way to ensure your supply chain company thrives, even under extreme circumstances such as COVID-19, is to work with professionals that have the knowledge and experience to guide you through these changes. One such company is Brokerlii. They understand the supply change industry exceptionally well and have the experience and expertise to guide you through these challenging times. They have a strong focus on technology which is essential in the modern supply chain environment. Brokerlii can help you direct your growth strategy and improve revenue while controlling costs. Their relationships and experience will also give you access to new markets.

At this stage in the game, irrespective of your experience and skills, it is important to leverage the power of partnerships. Brokerlii will deliver strategic support. They have seasoned industry experts with the skills and experience to deliver insights and guidance that will help your business to manage the challenges and prosper. Their extensive network is a powerful marketing avenue that will help you to acquire more business in the right industries. They can also assist with procurement support and are leaders in eCommerce Catalog Development. Now, more than ever, you need all the help you can get. Brokerlii can offer this and deliver an exceptional ROI. 

The Challenges

COVID-19 has resulted in multiple challenges. The main one is uncertainty. While supply chain management has always been a dynamic industry, the pandemic has caused regular and dramatic disruptions. At the same time, it has increased costs and slowed certain processes down. One has to find the most efficient and effective means to deliver a quality service while still remaining profitable. 

Safety is another relevant concern and this takes time, effort, and money to implement correctly. Many supply chain businesses have come under fire for poor safety measures during these times and this has not been good for the staff, suppliers, customer, and investor relationships. Staff and customer safety have to be key priorities. Supply and demand changes, as mentioned before, shifted almost overnight. All of these changes had a ripple effect on the industry that many are still coming to terms with. Things are still changing and it is unlikely that we will ever return to the way things were before. 

Final Thoughts

The supply chain companies that are going to survive and thrive are those that are agile and able to evolve and adapt at speed. Technology, skills, and experience will help. Working with the right partners is the fastest and easiest way to incorporate the necessary knowledge and systems needed to manage your business through these ongoing developments. Speak to Brokerlii to get some valuable insights into what they can bring to the table.