As the world continues to grapple with the ongoing COVID-19 pandemic, supply chain management has become a critical concern for CEOs in Australia. The pandemic has highlighted the fragility of global supply chains and the importance of having a robust and resilient supply chain in place. Here are some of the key areas that CEOs in Australia are currently focusing on when it comes to their supply chain:
- Risk Management: The pandemic has shown that supply chain disruptions can have a significant impact on an organisation's operations and bottom line. As a result, CEOs in Australia are increasingly focused on risk management and identifying potential risks that could disrupt their supply chain. This includes everything from natural disasters to pandemics and other global events.
- Local Sourcing: The pandemic has highlighted the need for organisations to have a more diversified supply chain. As a result, many CEOs in Australia are now looking to source more materials and products locally in order to reduce their dependence on global supply chains.
- Digitalisation: Digitalisation is rapidly changing the way supply chains are managed. CEOs in Australia are now exploring how digital technologies such as analytics, machine learning, and the Internet of Things (IoT) can be used to improve visibility, automate processes and make the supply chain more efficient.
- Sustainability: Sustainability has always been important for many organisations, but it has taken on even greater importance in the wake of the pandemic. CEOs in Australia are now looking for ways to make their supply chains more sustainable by reducing waste, increasing efficiency and implementing more sustainable practices.
- Flexibility: The pandemic has shown that supply chains need to be more flexible in order to adapt to unexpected disruptions. CEOs in Australia are now looking for ways to make their supply chains more adaptable, by implementing just-in-time inventory management, lean manufacturing, and other strategies that promote flexibility.
- Collaboration: CEOs in Australia are also recognising the importance of collaboration when it comes to supply chain management. By working closely with suppliers, logistics providers, and other stakeholders, organisations can develop more efficient and effective supply chain practices.
In conclusion, the ongoing COVID-19 pandemic has had a significant impact on supply chain management and has made it an important concern for CEOs in Australia. As a result, many CEOs are focusing on risk management, local sourcing, digitalisation, sustainability, flexibility and collaboration to improve the resilience of their supply chains.