Recession proofing your business with smart supply chain decisions
Recently, South Africa entered a technical recession for the first time since 2009, with Statistics SA revising the growth forecast downwards to 2.6%. There is no doubt our economy is taking strain thanks to burgeoning fuel prices, exchange rate volatility and weakened business confidence, and while the public is still grappling to understand the impact of the news, arguably the first area to be impacted will be consumer spending. The tightening of belts will have a direct knock-on to industry thanks to a decreased demand for goods and services in most sectors. For companies, an economic downturn is by no means easy, however, re-evaluating supply chain strategy to improve efficiency and flexibility, and more so to capitalise on hidden opportunity, can go a long way in helping to weather the recessionary storm.