Businesses and supply chains worldwide have had to face new challenges this year as local and national governments implement new regulations to combat the ongoing coronavirus pandemic. Adhering to these regulations, resolving supply chain disruptions, and re-evaluating processes have understandably been the primary focus of organizations in 2020. However, addressing these challenges have forced many businesses to stretch existing resources to fill in the gaps; shifting focus away from their core business. While this may fair well as a short-term solution, knowledge gaps, along with exhausted resources can lead to inefficiencies that can cost businesses big in the future.
Subjects that are having the greatest impact on resources within supply chains are:
Technology
In March of 2020, as governments around the world began putting regulations in place in an effort to control the spread of Covid-19, supply chain disruptions began to surge. These disruptions had the greatest negative impact on organizations that did not already have a strong technology mix in place, to give the visibility needed to make data driven adjustments. As businesses adopt new technologies for higher efficiency and visibility, it is likely that they will lack resources that have the required expertise necessary to optimize the technology.
Working Remotely
According to research done by FlexJobs.com and Global Workplace Analytics, remote work has increased by 44% from 2014 to 2019. And in an effort to deal with growing workplace health concerns, many more workers have transitioned to working from home in 2020. While there have been huge advancements in remote communication technologies, limitations do still exist. Employees, working from home, can often feel isolated and less a part of the team. They may also find it difficult to prioritize tasks. These limitations can put remote workers at a disadvantage when it comes to collaboration and adjusting to new technologies and processes.
Market Volatility
Fear, uncertainty and doubt have driven the consumer market in 2020. The combination of a global health crisis and unfavorable trade relations with China has led to shortages of raw materials, while consumer demand unpredictably surges. This volatility has caused many businesses to cut costs by furloughing, issuing lay-offs, or letting workers go completely. As markets remain unpredictable for the foreseeable future, organizations may be hesitant to invest in the onboarding process of new resources.
Conclusion
This year has been a wakeup call for many organizations concerning their supply chain. Some disruptions, such as the current global pandemic, can only be combatted by a resilient supply chain. It is important to remember that at the core of any process or technology, is a human resource. Implementations, configurations, non-automated processes, analytics, and support all require human resources and are imperative to the successful operation of a business. Economic uncertainty can sometimes prevent organizations from making long-term commitments to new hires and can lead highly qualified candidates to look elsewhere for employment. In this situation, businesses may look to a third party, such as Corvita Group, to fill in any resource or knowledge gaps. Corvita Group is a technology-neutral logistics consulting firm that also provides relief to businesses that are looking for an expert resource, without having to onboard a new FTE.