“Although there is much speculation on the rate of the economic recovery, some indications suggest that consumers’ frugal spending behavior during the recession may last well into the recovery period and beyond,” says David Johnston, senior vice president, supply chain, JDA Software. “Given this situation, manufacturers should recalibrate their supply chains now to assist in operating in today’s ‘new normal’ and lay the groundwork for future growth,” he adds.
Johnston lists some critical recession-recovery strategies to mitigate the risks and respond to opportunities associated with the current economic recovery.