RIS RISK & OPPORTUNITIES KAMALASEN CHETTY, SOUTH AFRICA 09 MAY 2020
“…WE ARE LIVING THROUGH UNPRECEDENTED TIMES…” ARE WE REALLY… • 4mil • 3mil • 50mil DEATHS DUE TO DEATHS DUE TO HUNGER CANCER BIRTHS • 600k • 850k HIV/AIDS RELATED ALCOHOL RELATED • 90k cases p/a DEATHS DEATHS • 21mil 150 by spouse/partner per day DEATHS (www.unwomen.org) • 350k • 300k DEATHS DUE TO DEATHS DUE TO WATER MALARIA BORNE ILLNESSES • APPROXIMATE – YEAR TO DATE STATS: HTTPS://WWW.WORLDOMETERS.INFO/
WHY DOES THIS FEEL DIFFERENT THE VIRUS DOES NOT CHOOSE A HOST BASED ON:
SUPPLY CHAINS HAVE ALWAYS BEEN IMPACTED • NATURAL DISASTERS WE HAVE NEVER WITNESSED • CONFLICT RISK MITIGATION THIS SCALE, MAGNITUDE, STRATEGY ACROSS SO MANY INDUSTRIES, • TRADE WARS TERRITORIES SIMULTANEOUSLY • MORTALITY DO NOT EXIST, AS WE HAVE NOT PLANNED FOR THIS LEVEL OF DISRUPTION RISK MITIGATION ACTIONS FINANCIAL SOURCING BUSINESS ASTUTENESS STRATEGY REPRIORITIZATION CHANGING LANDSCAPE REVIEW PREVIOUS COMMITMENTS SUPPLIER SEGMENTATION (KRALJIC) DEFERRING BUSINESS PLANS CONSIDER FINANCIAL DECISIONS RECONSIDER MASTER SUPPLIERS PRODUCT LAUNCHES UP & DOWNSTREAM IMPACT HOW HAVE SUPPLIERS EVALUATED IMPLEMENTATION/UPGRADES IN THE PAST BEEN IMPACTED
WHAT ABOUT THE UPSIDE
SEARCHING ….FOR THE BEGINNING • NORMALITY • DEMAND • FOCUS FOR THE FUTURE WE ARE ALL TRYING TO UNDERSTAND THE SITUATION, HOWEVER THERE IS A VERY DEMANDING CONSUMER IS NO EXACT ANSWER AS TO WHEN THE MARKET WOULD RECOVER WATCHING CLOSELY
OPPORTUNITIES THE SOCIALLY CONSCIOUS CONSUMER ….THINKING FORWARD UNDER 40 • GEN Y (BORN 1980 TO 1994) • GEN Z (BORN 1995 TO 2009) • GEN ALPHA (BORN 2010 TO 2025) GEN Z (DREAMERS) WATCHED PREVIOUS GENERATION ALLOW MILLIONS OF JOBS TO SLIP LIP OU OUT OF OF THE COU OUNTR TRY GEN ALPHA (I- GEN’ERS ) CAUTI TIOUS, LESS OPTIMISTIC, MAYBE LESS NAIVE https://www.nielsen.com/us/en/insights/article/2012/the-global-socially-conscious-consumer-2/
OPPORTUNITIES THE SOCIALLY CONSCIOUS CONSUMER ….THINKING FORWARD Wants industry and corporations to drive change Today they hear about natural rehabilitation of the earth, with 66% - Environmental sustainability, and 50% flourishing of wild life. protection of animals Today they get involved with family initiatives to serve destitute 53% - Eradicating hunger communities/individuals. Today they hear about washing their hands for 20 seconds. 48% - Increase access to clean water Today they hear about inequality within the community and 45% - Promote gender equality workplace. 44% - Support small business and entrepreneurs, Today they hear about countless job losses in their home towns. with p rojects that support the local communities Nielsen report, 2012 https://www.nielsen.com/us/en/insights/article/2012/the-global-socially-conscious-consumer-2/
OPPORTUNITIES THE SOCIALLY CONSCIOUS CONSUMER ….THINKING FORWARD In summary • Plan for your re-entry DON’T LOSE SIGHT OF • Strategic partnerships, long term relationships THE CONSUMER • Life will return to some version of normal CREATE LOCAL Rethink local market needs, recovering from this EMPOWERMENT catastrophe requires investment at local levels. OPPORTUNITIES, ETHICAL SUPPLY CHAINS Drive stronger connection with your consumer, and solve your ‘’sources of supply’’ to mitigate SOCIAL RESPONSIBILITY future risks. RE-THINK YOUR SUPPLY CHAIN
https://www.odwyerpr.com/story/public/13499/2019-12-09/fairness-sustainability-defines-alpha-generation.html https://www.manufacturing.net/home/article/13184824/heres-what-marketers-should-learn-about-generation-alpha https://www.nielsen.com/us/en/insights/article/2012/the-global-socially-conscious-consumer-2/ THANK YOU!
Recommend
More recommend
