As the Covid-19 epidemic spreads to India and almost all the countries of the world, lockdown is going on in every infected country. Every person is confined to the house for lockdown, it is forbidden to go out of the house without excessive need. In this situation, it has become very difficult to reach customers or the general public. Retailers have stepped up their tireless efforts to provide their customers with the products they need and to protect their health.
Global supply chain networks are being promoted every day in Covid-19. In line with this, retailers are looking for new ways to supply their customers with the products they need. The networks of this chain have grown to a much larger size. People from different countries have realized their intensity. Supply chain leaders have created a variety of transparency to reduce short-term results. With the outbreak of Covid 19 disease, the demand for daily necessities has changed. With more and more people staying at home, the demand for food, household, and personal goods has increased. Demand for this specialty has grown significantly as a result of recent corporate scandals.
Logistics and supply chain Retail business is one of the components of a country’s economy. We collect raw materials based on demand forecasts and then accelerate production to store and eventually reach consumers. As a result of the lockdown, manufacturers and retailers face closure of this supply. Ordinary people panic and start stocking food and other necessities. Supply was disrupted as production was halted due to the absence of workers for the lockdown.
In order to restore the supply chain during the Coronavirus, the McKinsey study called for immediate action to address the current situation, which has been divided into six stages. The lower stages are explained ————-
Creating different levels of supply chain transparency, listing critical products, identifying supply sources, and identifying alternative sources.
Stock must be increased to keep the production system running and to enable delivery to customers.
Realistic final customer needs to be assessed and the customer segment to be met.
To ensure the safety of workers, the individual must provide past safety equipment, as an alternative, so that they can work in shifts.
Need to identify suitable for delivery, take capacity in transportation.
- Networking capital needs to be managed to understand where supply chain issues are beginning to have a financial impact.
Prioritize products and manage demand volatility: The current COVID-19 epidemic has been hampered by a range of effects. Retail Priority and Supply Chain Problems Changing Rapidly The time has come to quickly assess, recover, and respond to the myriad obstacles and challenges that are still inevitable for changing companies. The need of the hour in India is to implement supply chain finance programs to help suppliers with the severe financial crisis and to make the value chain more capital efficient. If companies start sharing data in their supply chain at the same time, they will be in a better position to deal with future compromises.
In the crisis of the Covid-19, retailers will have to fight for a business recession and restructuring of the supply chain. Chains need to look for more advanced technology to deal with this difficult situation. Restructuring the Indian supply chain model will be a lockdown for the Indian retail industry – a truly game-changer…