Coronavirus, eCommerce and Shifting Supply and Demand.
In March, the paper product isles in the grocery store were empty, you couldn’t find toilet paper, paper towels, Clorox wipes, etc. anywhere. Funny memes aside what people may have missed is the trickle-down effect that this would have on the supply and demand curve. Have you noticed that the grocery shelves still remain light in stock, or even empty? The stock of many products is limited as manufactures shifted their attention to help with COVID-19 by turning their facilities into facemask, hand sanitizers, plastic face coverings and ventilators makers.
Next time you go to the grocery store, take a look at the shelves and you’ll see there is not the stock we once knew. The COVID effects will affect the Supply and Demand curve for the next foreseeable future. Are you ready?
We have all been forced to learn about supply and demand – when there is little supply and the demand is high, it will cause prices to increase. On the other hand, when there is an increase in supply and the demand is low the price will decrease.
Before technology, the supply and demand curve were more predictable to manufactures. The data stay trued for a month, quarter or even a year. However, in today’s world the supply and demand data can change in an instant. Today’s essential item might not be tomorrow’s and manufactures are having to go with the flow of what is in demand today. The only way to be able to ensure you are ready for changing demand is to have an eCommerce platform that can shift just as quickly.
The partners that HCL has aligned with are all working towards the same goal, for our customer to be able to sell quickly and efficiently. When working with HCL and our partners, our customers sites are able to perform on a single Out-of-the-Box platform supporting all routes to market that include:
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- Supports flexible and scalable B2B, B2B2C and B2C business models
- Provide Governance and Control of Quotes and Approvals
- Confidently commit delivery dates of complex orders
- Accelerate the onboarding of new buying organizations
- Deliver and engaging B2C-like experience in a B2B world
- Enable buyer to interact anywhere, anytime
- Quickly enter new markets
We have some great examples of organizations succeeding on our 9.x platform and you can watch their stories here – Follett, GM & DFS Customer Talks.
Reach out to us and we can talk more about how we’re helping our clients navigate this fluid new world with a fast, flexible and scalable platform.
