The COVID-19 pandemic has landed businesses worldwide in a state of shock - whether multinational or local, big or small - all businesses have experienced disruption, and many are already deploying response strategies that have outperformed traditional business models. However, in this interconnected mesh of information and physical transport highways, supply chains have suffered the most.
According to HCL’s Digital Acceleration for Business Resilience report that surveyed over 400 IT and business decision makers across the globe, over 60% respondents said that their organizations experienced business operations and supply chain disruptions due to COVID-19.
More specifically, 68% of the manufacturing sector’s respondents report a decrease in demand, while 90% report a disrupted supply chain. Professional Services has been heavily impacted as well at 60%, and 69% are affected by a disrupted supply chain. The picture is very clear: supply chains are in a state of shock, and most companies are not yet clear on how to mitigate the mobility deadlock around their core manufacturing components.
Businesses around the world have come to realize the futility of traditional supply chains. Siloed organizations that produce standardized static products through strongly defined demand and supply logistics have suffered, while early digital adopters are writing significant post-crisis figures of growth.
Read the supply chain playbook to learn how digital supply chains can help bring more predictability to markets with data, along with driving organizational success.