With crises always comes opportunity as well. This is especially true when government aid cushions are buffering the worst consequences of lost sales and buy some time to act. With strategic decisions, difficult phases can be used for course corrections, further digitization steps and the development of new business areas, instead of falling into apathy or hectic rush.
It’s almost like it was in 2009, only worse. During the economic crisis back then, the transport companies specializing in the automotive industry were also hit particularly hard, while the food logistics companies, for example, continued to drive completely unimpressed. In the Corona year 2020, in addition, the internal processes must be adapted to mandatory distance rules at the workplace. In most cases, this means that a large part of the workforce has to work from home.
Anyone who still works with paper is now lost
The further digitization is advanced in the company, the better home offices can operate. Companies that went paperless and save their data in a cloud are easily able to send their employees to the home office. Those who still work with paper now, on the other hand, are lost. In these cases, only large offices that give colleagues enough space to work together can help. Now is the time for businesses to start thinking about their future IT strategy.
Reviewing previous strategies is the best thing companies can do in times of crisis. The focus on certain industries and business areas should be put to the test, as should the future viability of the software and hardware in use. For example, what about the reliability of the telematics provider and which mobile devices are still based on Windows Mobile? Is the customer base balanced or are there any dependencies on individual large companies? A key account’s share of more than 10 percent of total sales is already viewed as critical.
Price wars damage the entire industry
Times with slower sales can particularly be used for working together in a team to develop and implement new processes. The short-time working regulations create the necessary room to survive without hectic activity. Aggressive acquisition of freight in foreign waters, on the other hand, sends the wrong signal and leads to further price declines, which will ultimately hurt the entire transport industry … even well after the crisis.