It is now May and looking back, March seemed so long ago. It does seem as though a year has passed by in as little as 2 months.
Looking back to last year, many of us spent the better part of the fourth quarter doing strategic planning. Little did we know a few months later, most of it would go out the window. It is like watching a gust of wind come just as you finish editing a printed version of a book. That stunned look of, “I can’t believe that just happened.”
We have had a rare opportunity to experience a year’s view within a period of a few months. One way to look at it is a good weight loss example. If I were to lose 50 pounds over a year’s period of time, anyone seeing me on a daily basis would likely not notice for quite some time that I am losing weight. However, if I lose 50 pounds in two months it would be very clear and most would notice. I have seen the same thing happen in business.
A business’s weaknesses have become more glaring while the strengths have really sparkled. With the clarity in mind, there is no doubt a number of changes needs to be made as a result of both external and internal factors.
Look at the next 30, 60, 90 days as the opportunity to hit the “reset” button on your business. A lot can be reviewed as part of a reset. Our panel of experts executive have identified the top ten areas to review, taking into account the current crisis.
Hitting the Reset Button
Org Chart – what does your organization structure need to look like in the next 3 and 12 months
30, 60, 90 day planning and new KPIs.
Systems (link to systems article)
Human Capital – Leadership team, Employees
Customer and Vendor Contracts – renegotiating terms and fees
The Coronavirus supply chain disruptions have translated into heavy reforecast activity. A critical element to rely on during changing times often lies in the content, or detail of the data a business has at hand. Hopefully, the content will power the ability to reforecast with the intelligence and rationale required to be accurate during this chaotic time. The S&OP (Sales and Operations Procedures) process, if done properly, will contain these elements to drive informed decisions. The S&OP process should minimally include
Product line forecast and sales Plan, aggregated into meaningful summaries
Expect to update this plan frequently, utilizing Best Practices
Revise monthly on this restart of the economy
Prepare supply chain actions to support this Plan
Service inventory status
Strategic account focus
Time to perform product rationalization
Get your team on board, involving them in these details
There is of course much more that can be done at this time, but this is a start. It seems no one is expecting the restart of the economy to be smooth, so it is best to prepare several scenarios with different supply, market, and regional variables in play.
Learn how we can help your business grow profitably today.
Cerius Executives 100 Spectrum Center Drive, Suite 900 Irvine, CA 92618 Phone: (949) 867-7119