COVID-19 presents a major challenge for organisations all over the world. It has prompted many companies to adapt to this “new normal” and find alternative ways to conduct business. While it is uncertain to what extent conditions will change, the importance of adapting at speed is paramount. By adopting a proactive mentality, there are several things organisations can do to foster a stronger competitive advantage in the aftermath of the COVID-19 pandemic.

SOURCE: Supply Chain Digital

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Over the next 15 months, Africa is set to receive a total of $50bn towards its economic recovery from the World Bank, which has identified the protection of the region’s small and medium-sized enterprises (SMEs) as essential to its economic bounce-back from the coronavirus. Financial technology (fintech) has a key role to play in this.

SOURCE: Oxford Business Group

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Although the COVID-19 crisis has now hit many UK businesses, the first to feel the impact were those with global supply chains. Companies depending on items manufactured and sent from China suffered when the initial outbreaks began occurring in the de-facto factory of the world. A number of UK manufacturers, for example, had to halt production after specialist parts they were expecting to come from China did not arrive – showing just how fragile a global supply chain can be.

SOURCE: Supply Chain Digital

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Deutsche Post DHL has reported that it has seen an increasing number of customers and clients diversifying their supply chain networks during the global pandemic. Oscar de Bok, a management board member at Deutsche Post DHL, said: “There is an increased tendency to organise different sources of supply to reduce dependency on one country or one production site in a strategic way.”

SOURCE: Supply Chain Digital

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With the COVID-19 crisis highlighting their vulnerability to external shocks, food and beverage companies are set to increasingly diversify their supply chains and locate production closer to their markets.

SOURCE: Food Navigator – Food Navigator

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There’s a proverb that goes: “The best time to plant a tree is 20 years ago. The next best time is right now.” The naturally vulnerable Small to Medium Enterprise (SME) and entrepreneur sector would have done well to build their resilience prior to COVID-19. But if they didn’t, as with so many, right now is the time to plant the seeds for short, medium and long-term resilience.

SOURCE: World Economic Forum

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Leaders across business and government are reevaluating the status quo and evaluating lessons learned as we emerge from the initial Covid-19 lockdown phase. They will make strategic decisions that will have long-term impacts and outlive the pandemic. What have we learned and what should they consider when reevaluating preparedness overall and supply chain decisions in particular?

SOURCE: FORBES

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Nestlé has mobilised its brands, supply chain, distribution and retail partners to launch a comprehensive global COVID-19 response.

This is in addition to the company’s initial donation of CHF10 million (US$1.4 million) to the International Federation of the Red Cross (IFRC) and Red Crescent Societies.

SOURCE: The Moodie Davitt Report

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