The Corona crisis has led to significant disruptions to business and supply chains. Many companies had to realize that it is necessary to be able to completely re-establish supply chains within the shortest time possible.

For the future, I see four essential approaches:

1. Create transparency

Companies should always know the suppliers they are working with for each project. This also applies to tier-2 and tier-3 suppliers, who have often received far too little attention in the past. Especially in times of crisis, this quickly falls on the feet of OEMs: the loss of suppliers causes delivery bottlenecks and rapidly brings even large corporations into economic difficulties.

2. Better cooperation with suppliers

Companies should work more closely and, above all, digitally with their suppliers to plan orders, forecasts and inventory. And not only with the direct system / module suppliers, but also with the component and parts suppliers. Suppliers at all levels can thus plan customer demands more efficiently, better coordinate their own product inventories and suppliers, and communicate information about potential delivery problems to their clients earlier.

3. Improved supply chain collaboration

If existing supplier data is combined with the supplier's own data, transparency can be created across the entire supply chain.

eDOC AS supports such projects by means of cross-supplier master data management, which enables the creation of transparent material master structures across the supply chain.

4. Diversification of suppliers

Crises such as the Corona pandemic reveal the dangers of a complex and closely linked international logistics chain. Companies should diversify their suppliers of goods and services with the same attitude as an investor diversifies his portfolio if he wants to ensure more stable earnings and capital preservation. Currently, it is becoming apparent that there is a considerable need to catch up due to the lack of transparency in their own supply chain, as well as the lack of second-source suppliers.

eDOC AS supports such projects with temporary capacities that can implement individual sourcing strategies for your company.