Retailers can take some immediate actions to improve their supply chains during the pandemic, to create a rapid response capability.
Some of those actions include overriding algorithms to redirect inventory to high-density areas, daily meetings with suppliers, suppliers delivering directly to stores, a reduction in product variety, and a relaxation of same-day/next-day delivery requirements.
See the Supply Chain Digital article for additional recommendations by McKinsey & Company that focus on suppliers, merchandising, distribution, logistics, and fulfillment.
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This post is based on the Supply Chain Digital article, COVID-19: five priorities for retail supply chain, by Georgia Wilson, April 3, 2020, and the YouTube videos in the Spotlight. Image source: Travel mania/Shutterstock
1. Why does the Supply Chain Digital article mention a focus on reducing product variety for suppliers?
Guidance: Guide students thru the model in the article by highlighting that fewer products means faster response throughout the Continue reading