Tag Archives: market research for vendor satisfaction

Supply chain system in India takes a hit during the lockdown

Supply chain takes a hit during the lockdown

While many of us had huge plans for the year 2020, the year apparently had a different plan for us. India went under lockdown from 25th March to contain the spread of the coronavirus outbreak which lead to restricted movement of goods and put a hold on the functioning of industries. As a result, companies that sell fast moving consumer goods (FMCG), as well as retailers of such goods, saw severe disruptions across the value chain.

Companies are struggling to keep pace with new shifts and disruptions in the procurement and supply chain processes.

Businesses are being shut, and the supply chain is disrupted. Industries are either closed or operating at sub-optimal utilization (with 8-10% of staff).

Companies in the healthcare, logistics, technology and media sectors are witnessing an increase in spending because these companies had to invest in unplanned remote workforces which became functional virtually overnight. Retailer supply chain happens to be one of the most crucial ones to be impacted by the pandemic and the on-going lockdown.

While many are losing jobs and many retail stores have reached the verge of shutting down, the lockdown is probably proving to be boon for the food retailers. Grocery as well as medical stores have seen a sharp rise in demand but due to the situations they were facing severe constraints of stock replenishment as company salesperson visits were severely hit.

While the online food and grocery stores are stepping up their operations to supply essentials to the masses, the overall food supply chain is battling a number of challenges to stay functional.

Retailers reported changes in the demand profiles of specific products, as shoppers’ behavior changed in response to the outbreak of COVID-19.

Supply chain takes a hit during the lockdown
Supply chain takes a hit during the lockdown

How the lockdown has affected the supply chain?

• Sourcing challenges
• Fewer sales channels for the raw material producers and farmers
• Capacity constraints
• Operational disruption

While various factors are forcing logistics and supply chain networks to adapt and rise to the challenges, going forward in order to ensure that if a situation like this pandemic is to rise again, companies across all sectors will be working on innovative ways with use of technology to smoothen the supply chain disruptions and have better visibility and communication.

The end goal ideally would be to ensure that the customer regardless of the situation should have access to the products they need.

Unfortunately, the road to recovery is not as straight forward as we expect.

Interested in more market-specific insights on the impact of Covid 19 on the supply chain system?

Partner with us to get solutions to how you can prepare for the new normal post-Covid-19.


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VENDOR SATISFACTION SURVEY

“Growing Together” is what vendors would like to hear from any of their business partner or customers.

A satisfied vendor is the one who would always standby you and your business in critical situation and considers your success as their success.

Strong backbone makes a body posture look strong and stable. Vendors are the backbone of any business. Vendors are integral part of business and they play a very important role in overall supply chain.

spare-part-vendor

Its quire essential to know how to keep your vendors satisfied –

      • Find out what make them happy – which parameters
      • Understand the current issues faced by them
      • Ask them where you can do better
      • Measure perceptual image of your company
      • Compare your company’s performance with other companies

Factors that would influence vendor- customer relationship –

      • Fair commercial policies
      • Integrity in business dealings
      • Ethical practices
      • Supportive leadership
      • Clarity of communication
      • Understanding capabilities of the vendors while placing an order
      • Assurance of the regularity of the business
      • Timely payment
      • Support and co-operation as and when needed
      • Technological advancement – make vendors upgraded with latest technology to strengthen the overall business process
      • Loyalty program – listen to your vendors and rewarding the best performers
      • Relationship & trust with vendors
      • Professional approach in dealing with vendors

Key questions to know –

      • Are vendor’s needs and expectations being met by the organization’s products and/or services?
      • Do vendors believe the organization’s claims about current and projected organizational performance?
      • Do vendors believe that organizational performance can be sustainable?
      • Given their relationship to the organization, what suggestions do vendors have for improvement?
      • How do they contribute new product development and understanding customers’ needs?

 So if you want your vendors to believe you saying – “Growing Together”, just Stop Quoting and Start Doing!!!


We will help you make this happen! Contact us  to know further details