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What does Agility mean for Supply Chain?
Companies embarking on their agility journey for supply chain should focus on the basic principles of agility. What does it encompass?
The first element of an agile supply chain is to keep our eyes and ears open to what’s happening to consumer demand in various geographies and decipher its implications in the near term. It’s a continuous activity. FMCG companies do it daily, whereas Quick Commerce companies do it every hour. This is essentially Demand Sensing.
The next step is to convert this demand view into supply actions in a fast and flexible manner through Replenishment heuristics. The actions should be tweaked at the frequency of Demand Sensing. These are the fundamental capabilities of Flexibility and Responsiveness.
Focus on these three fundamental supply chain capabilities of Demand Sensing, Flexibility and Responsiveness make the supply chain agile, ready to respond to any disruptions.