Harsha Razdan, Partner and Head - Consumer Markets and Internet Business, KPMG in India, delves into the long-term implications of the pandemic and shares insights on how companies can thrive in new normal.
November 19, 2020 / 10:28 AM IST
The transformative nature of the ongoing COVID-19 pandemic has embedded the need to strengthen business resilience and foster agility. While no one was prepared for this unprecedented situation and the scale of its impact, companies across the globe faced the challenge and adapted their businesses by seeking opportunities of growth
In KPMG India’s latest report Navigating Through COVID-19; Re-imagine, re-invent, reach out! which was conducted with over 142 CXOs of leading consumer organisations across 10 sub-sectors, compiled more than 550 best practices that companies had adopted. KPMG India then culled out key insights, innovative strategies and core learnings that other organisations can implement to maintain business continuity. We spoke to Harsha Razdan, Partner and Head - Consumer Markets and Internet Business, KPMG in India, as he delved into the long-term implications of the pandemic, how companies navigated through this new normal, and shared insights on how companies can thrive in next phase.
One of the biggest operational shifts during this crisis has been remote working. But while work from home has been beneficial in many ways, it has also led to collaboration challenges and hampered working relationships with colleagues. However, Razdan notes that several companies have taken focused initiatives to engage with business partners and ensure operational continuity. "Even though work from home sounds easy for many, it comes with its challenges. Many have limited space and have to counter numerous disturbances when working from their homes. Several companies have tried to address these issues and make their employees' lives easier by offering flexible hours, providing ergonomic furniture, internet allowances, and more", he said.
Another radical change the pandemic has highlighted is supply chain disruption. Razdan helps us understand what kind of protocols companies put in place to mitigate production risks and curb supply chain disruptions, “Supply chain has been the biggest challenges. To enable uninterrupted services, companies focused on agility, safety and visibility. They followed all the safety protocols and worked on re-engineering everything in the backend and optimised inventory to ensure their products reached consumers like you and I at the right time without any quality-based issues”.
While there are many disruptive forces at play, it’s time for business leaders to seek new opportunities and embrace the changes by deploying innovative strategies. To learn more about the best practices to future-proof your business, explore KPMG India’s report on Navigating through COVID-19; Re-imagine, re-invent, reach out!