Strategic agility is the ability to improve performance amid disruption. Companies that successfully navigated the COVID-19 crisis identified when to deviate from their strategic plan and adapt to the changing environment.
This article identifies six key principles to build strategic agility, using real-world examples including Airbnb, California Pizza Kitchen (CPK), Qantas, Zoetis, Evalueserve, Huanxi and Disney.
A supply chain “garage” approach allows organisations to optimise efficiency. Key components include:
- Focus on optimisation in the short term: Agile solutions and microservices can help address current issues like optimising container shipping, reducing inbound supplier calls, increasing collaboration, improving demand forecasting and labour management.
- Accelerate the midterm focus on data: Intelligent workflows are built on a clear data strategy that combines AI and machine learning, embraces automation and facilitates horizontal integration and adjustments across organisational functions, enabling 360-degree visibility of the supply chain and potential disruptions.
- Strengthen the core: Make supply chain employees’ work more valuable by optimising the human-technology partnership.
- Focus on cloud solutions and increased security: Granular, real-time, security-rich data is a necessity for combatting supply chain challenges, now and in the future.
In this interview (available in audio and transcript) the CFO of Dow shares his experience of leading one of the most complex mergers and spinouts in corporate history.