2020 – A Year of Transformations

We all know that going digital is the practical next step.

Many of us thought that we could gradually work on the plans and eventually take the plunge one day.

The only thing is, the day came sooner than most of us had anticipated.

2020 was a year the truly challenged companies, big and small, to transform – rather quickly.

Working from (Literally) Anywhere

As it became evident that going back to the office wasn’t going to happen anytime soon, many companies shifted to remote work.

While there were reservations around remote work, research has shown that it can have a positive impact. Research from Harvard Business Review shows that lockdowns helped people focus on their tasks and projects.

Employees shared that they spent 12% less time being drawn into large meetings and 9% more time interacting with customers and external partners.

This is probably the reason why companies like Microsoft, Shopify, and Twitter, have decided to make emote work permanent!

While all this is great, remote work does come with one challenge and that is data security. This is why it is essential to have policies and protocols in place to help you protect your data and your organization.

Truly Embracing Online Retail

As retail stores closed their doors, many retailers had to scramble to put together online retail offerings. Many of these retailers were previously relying heavily on relationship selling, enhanced in-store experiences, and consumer interactions.

Statistics Canada also confirmed that eCommerce sales more than doubled year-over-year, with a 110.8% increase in May 2020 compared to May 2019.

So, the biggest challenge, for almost all retailers, was to create or enhance the digital customer journey. This also meant revisiting sales strategies, focusing on online platforms, revising brand marketing campaigns, and diversifying order fulfilment options.

Prioritizing ERP Integration and Demand Planning 

Supply chains were impacted across the globe due to fluctuating demand and COVID-19 induced restrictive measures.

This coupled with a rise in eCommerce, made it challenging for supply chain managers to predict demand, allocate resources, and keep stock levels optimized – all while making sure they’re keeping the associated costs low.

This is where ERP played (and continues to play) a critical role. It allowed real-time tracking and monitoring of inventory items, throughout their lifecycle, no matter where that item was located.

In addition to this, ERP integration automated various other processes such as invoicing and reporting; enabling organizations to optimize resource allocation as well as deliver better omnichannel experiences.

Similarly, DDMRP also played a vital part in helping create more flexible supply chains – as it relies on demand and not just forecasts.

When we talk about the digital transformation in 2020 – eCommerce and ERP integration are on the top of our list.

We also feel that these changes are likely to stick (even when the pandemic is behind us).

So, if you still haven’t integrated these solutions, it is important to do a critical review of your processes and procedures and create a plan of action.

At SHEA Global, we partner with our customers to help them anticipate and respond to market changes. Reach out to see how we can support you in making Business Better.