Banking Barometer 2021 – Resilience

COVID-19 is causing significant impact to global trade and product flow. Moving physical goods is especially challenging. With people in lockdown, and many businesses not operating as normal, the logistics of transportation are becoming increasingly complex – causing real problems for customers.

EY was already working with one of the world’s largest advanced manufacturing companies to improve their supply chain when the pandemic hit. We immediately increased our focus and deployed advanced analytics, including process mining and satellite imaging, to anticipate customer demand while maintaining the flow of goods through key ports.

It’s efforts like this that are helping to ensure that the world’s supply chains stay resilient amid the COVID-19 pandemic.

Our work has already delivered some immediate benefits:

• We moved rapidly to keep the supply chain working and materials flowing.
• We also identified an escalating backlog issue caused by logistics delays and developed mitigation strategies.
• We empowered our client’s workforce to make informed decisions that would ensure they help maintain their reputation as a trusted supplier.

And the analytics we’re deploying, alongside the data-driven approach we’ve designed, is giving our advanced manufacturing client a unique ability to manage their risks, ensure minimum disruption to supply chains, and to continue to run their business efficiently and effectively.

Ultimately all of our efforts are designed to do one thing: keep the world’s supply chains moving so essential goods get to the people who need them most.