During the pandemic, many businesses experience a slowdown in sales and supply chain is also affected. Business owners often worry about how to boost/sustain their sales while making sure supplies are constantly flowing in without disruption and costs are controlled.
It is easy to find many immersed in challenges of keeping business afloat and getting depressed and frustrated over the evolving situation where most business plans are thrown sideways.
However, opportunities do exist during such a time. Please see below for the checklist of items which you may or may not have done during this period.
Transforming business model from an offline to an online model and explore other product lines. Examples of travel companies pivot into trading or logistics business or companies venturing into making essential products such as medical masks.
Upgrading your IT system such as ERP or CRM to enhance productivity.
Streamline your existing sales, purchase, inventory and other business processes
Explore alternative supply sources for diversification and price reasons. Due to supply chain constraints, it is important to look for same product from multiple suppliers or diversifying into a similar product so that your supplies will not be disrupted due to long lead time or no stock scenario.
Creating a hybrid work environment for co-workers to work anywhere or in office. Do you provide the right tools and the right training for your people to do their best for your company
Manual business process such as tracking inventory on excel or calling back office to check stocks or simply just having an on premise accounting software with singular accounting function just may not work in the near future ahead.
Do you see a sunrise or a sunset from the picture above? Do you see opportunities or challenges in the pandemic period? If you have not embarked on your journey to go digital on your business tools, you can start by looking at SAP Business One Starter Package 10.0 to jumpstart your journey. Contact us at email@example.com for a quick discussion.