A recession is when the economy declines significantly for at least six months, and there’s a drop in five economic indicators:
- real gross domestic product
- retail sales
Since World War II the US economy has had 12 recessions with an average of one every six years, with the longest interval being 11 years. All leading indicators say we are clearly due for a recession. Is your supply chain ready? Is it a digital supply chain? Fine-tuning your demand planning processes NOW can be a big factor in your company’s ability to survive.
Additionally, companies that survive will focus on cutting costs, reducing capacities, consolidating suppliers, and freeing up cash by optimizing inventory – before the recession hits. Winners will:
- plan for the unexpected
- understand cash is king
- get and keep your financial house in order
- proactively investigate paths to navigate tariffs, including finding alternative sourcing, raising prices and buying ahead
Download and read this eBook, Winning with a Recession-Proof Digital Supply Chain, to glean three digital supply chain strategy tips to not only survive, but come out a market winner. We can offer one tip here – not investing in demand planning and other supply chain optimization improvements – is NOT the answer.