The events of the last 16 months since the emergence of Covid-19 in December 2019, are not comparable, even for statisticians, with events like World Wars, Great Depression, Collapse of the Berlin Wall, and Y2K. There is hardly any entity, whether MNCs, SMEs or Conglomerates which are unscathed directly or indirectly by the latest pandemic.
The common lesson learned by humanity, in this pandemic is that it is a wakeup call to all, revealing that the future will no longer be like the past era. There are series of unknown challenges ahead for every entity, irrespective of its size and domain. One thing is for sure, that it will not be just like restarting the operations after the storm and getting back to pre-Covid normal days. It is crucial for Business Owners and Management to evaluate and implement multi-prong strategies simultaneously.
It is prudent to consider some of the following:
- BPMS Review: Strategic Review of Business Processes Management System integrated with Virtual Meetings and Remote working staff, in different time zones.
- SCM Restructuring: Supply Chain Management overhaul with redesigned logistics, distributed warehousing, and inventory controls.
- Sales and Procurement Contracts: This is the most critical aspect for every organization to review their current Standard Contract Forms, including revised or new terms and conditions with structured clauses for risk sharing and mitigation strategies.
- Production Processes and Work-Sites Management: Whether it is in manufacturing or services and construction contracting business activities, each operation is in need of periodic and constant review and even reinvigoration, so as to be immune to infectious diseases, pandemics and international disruptions.
- Financial Strategies: Cashflow Management takes precedence over P & L performance in times of disruptions faced in 2020.
The above is not an exhaustive list of strategies, but rather, it is a top priority list of the most crucial tasks for the Board and Management of Companies to address and manage in turbulent times, just like the current pandemic the world is facing.
TiberiasMC is well positioned to work with the interested Companies seeking urgent management support and strategic expertise. Act now and Contact email@example.com without delay!