Accelerate the digitization of business processes and supply chains. Digitization is not only a benefit in itself, enabling greater reliability and lower costs. It also promotes agility in supply chains, helping a company to potentially profit rather than suffer from possible rising protectionism or other changes in the trade environment.
The fast pace of change may privilege a modular approach to technology, so parts can be updated without buying whole new systems. It also requires upskilling suitable for the digital age: programs that offer bite-sized pieces and produce immediate performance as well as knowledge.
Take advantage of the new tools to monitor regulations worldwide, and help shape those regulations, especially around still-evolving technology. Companies should make their view heard both through industry groups and direct dialogue with officials.
Uncertainty shouldn’t mean paralysis, and wait-and-see doesn’t mean waiting idly. Persist with long-term goals to upskill your workforce and upgrade technology, while also preparing plans to take advantage of different scenarios. A slowdown, for example, could mean M&A opportunities for those who are ready. With these five strategies, Inbound companies can be well-prepared to continue their success not just this year, but for many years to come.