COVID-19 has disrupted multinationals unlike any crisis over the past decade, creating operational, monitoring, and planning challenges companies need to adapt to. As part of our vision to provide our clients with world-class market intelligence, we conducted a global benchmarking survey in July 2020 to understand how their planning processes, investment priorities, risk perceptions, e-commerce investments, and supply chain structures are likely to evolve over the next 1–3 years as a result of COVID-19. This article details our key findings on post-COVID-19 business models, including a free download with specific insights, as well as actions for your business to stay ahead of the curve moving into 2021 strategic planning season.
While respondents see significant opportunities for their business to gain structural advantages against competitors and are investing heavily in areas such as digitalization (supply chain, route to market, customer engagement, talent), they are also under significant budget pressure and are facing an exceptionally uncertain demand and operational environment, which is prompting mass adoption of scenarios and other tools to help manage uncertainty.
Planning Processes: MNCs are changing their planning processes, with an emphasis on scenario building, rethinking short- and medium-term assumptions, and shifting responsibilities across different levels of the organization.
Budget Revisions: Firms are expecting budget cuts across the board, but at the same time are looking at opportunities to invest, including acquiring new talent, optimizing their route to market, and digitizing their organizations further, faster.
Supply Chains: While most companies are looking to make changes to their supply chains over the next two years, these are more heavily focused on digitalization, better visibility, and building more buffers as well as some shortening of supply chains. Complete reshoring is not on the agenda for most firms.
Actions for Businesses
- Planning & Scenarios: Leverage best practices and tools around strategic planning, market monitoring, and scenario-building to help you bring clarity, rigor, and efficiency to a complex planning season.
- Route-To-Market Management: As customer chains come under liquidity and solvency pressures, review your distributor networks in the context of the capabilities they can bring to your business over the long term when evaluating whether and how to transition from certain channel partner models.
- E-Commerce: Review how e-commerce has been reshaped by COVID-19 and what online channel options you have as you invest further in the area.
Fill out the form below to access more detailed findings from our global benchmarking survey on strategic planning, e-commerce, recovery plans, and more.
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