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With 11 million unemployed in the U.S. and an estimated global economic toll of $28 trillion, COVID-19 has introduced unprecedented uncertainties into supply chains -- making a hard job that much harder. Industries such as retail, consumer products, manufacturing, pharmaceutical, and life sciences all struggle to align production and stocking with rapidly shifting purchasing demands. At the same time, some channels have surged ahead: online retailers, delivery services, and pharmacies are thriving. But with this success comes its own set of supply-chain complexities.
In this disruptive time, retailers and manufacturers must work harder than ever to identify supply sources in order to meet demand volatility. They need to identify vulnerable key supplier partners during this disruption, and they need close coordination between supply chain and store operations. Regardless of the pandemic, those who lack a robust and agile predictive capability face supply chain management challenges.