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The recent COVID-19 outbreak has created a huge dent in the global economy. It has shattered businesses of all kinds. But the COVID-19 impact on supply chain business has been the most devastating. This has happened because most countries are in lockdown mode and transportation is severely restricted. This article talks about the COVID-19 impact on supply chain business and how ERP for supply chain management can help in times of crisis.
The COVID-19 impact on supply chain business has been shocking. It has left supply chain experts dumbfounded. Most countries are facing problems to gather products essential for survival. The points below explain how ERP for supply chain management can help companies in times of crisis.
The COVID-19 crisis has massively disrupted supply chains across industries. This problem has become more acute ever since the country has been under lockdown mode. Most factories aren’t functioning and people are buying essential items such as food and toiletries incessantly. According to a survey by the Institute of Management, about 75% of companies are facing troubles managing their supply chains. This article will focus on how ERP platforms can help you maintain a healthy supply chain during the times of crisis, such as the Corona Virus pandemic.
For companies, especially those whose profits are directly dependent on sound supply chain management should have multiple vendors. This is because having a large database of vendors gives you a wide variety of options to choose from. These can be market price, availability of materials, delivery time and many more. Also, it ensures that you have the required supply at times when your preferred vendor is unable to send it to you due to legal restrictions or other emergencies. An ERP for supply chain management will help you keep track of multiple vendors and ensure that your production process continues unhindered.
Manual methods of creating vendor databases, inventory management, and keeping a watch over shipments is a cumbersome process. This is where an ERP for supply chain management can help you in the following ways:
According to the guidelines published by the World Health Organization (WHO), social distancing is the only way of curbing the spread of the virus. An ERP for supply chain management can be the most useful tool to ensure that. It provides easy access to business-critical information via mobile phones and allows you to manage processes from the factory floor. Also, it integrates with communication portals and enables your geographically dispersed team to remain in contact with each other 24/7. This reduces the required on-site workforce, which in turn, lowers the risk of your employees falling in the grip of the deadly virus.
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The proverb ‘Extraordinary times call for extraordinary measures’ define the current Coronavirus crisis aptly. Companies need to take hard decisions and act on them vigorously. The COVID-19 impact on supply chain business seems to be deteriorating with every passing day. ERP for Supply chain management appears to be the only solution to prevent further mess. At Sage Software, we are home to world-class ERP for supply chain management that efficiently handles all your supply chain problems and helps you run your company like a pro.
Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.