Leadership in the Face of COVID-19May 15, 2020
Short Term: As a manufacture, what can be done now?
- Establish a triage team to manage the crisis.
- Be proactive.
- Don’t waste the opportunity: A Crisis or Recession is a Terrible thing to Waste.
What lessons can we learn?
- Focus on long-term and not quarterly profits.
- Don’t ignore the warning signs.
- Avoid group think. Just because other organizations are “doing it” does not mean it’s a good idea. As the guardian of an enterprise, there is a requirement to think beyond the current frame of focus.
- We need to think regionally.
- Focus on inventory velocity, part and process quality, and become a zealot for total cost of ownership.
- Software providers have done an excellent job of “selling” integrated supply chain solutions. However, how integrated can your enterprise be with 90 to 120 days of total pipe line inventory?
- Manufacture products regionally for regional customers.
- The stewardship of low-cost country sourcing.
- Imagine customer loyalty when your enterprise keeps products and services flowing when others can’t?
Categorized in: The Inventory Doctor®