With the December 31st deadline fast approaching, we are getting no closer to a final Brexit deal. It is time for businesses to accept uncertainty as the deal they’ve been given, and prepare accordingly. This is not a time for businesses to bury their heads in the sand. They must invest in technologies that apply advanced analytics, AI and machine learning to identify and fix potential supply chain weaknesses before they are exposed. Having a digital twin solution is a necessity today, not a nice to have.
The volatile nature of negotiations and confusion around trade deals mean businesses are unable to make any major decisions and subsequent changes to supply chains. However, there is too much at stake to do nothing, with potential shortages in medicines and food a possibility. Companies must therefore focus on having responsive options immediately available. They should also draw upon their learnings from Covid-19 around the need for agility, contingency planning, inventory management and alternate sources of supply.
Companies don’t have to shoot in the dark. Digital twin technology allows businesses to model a range of scenarios and test the effectiveness of contingency plans ahead of deployment, ultimately gaining a better understanding of the implications of each action, providing a dry run for how to overcome potential Brexit related disruptions such as demand movements or port delays. For the prosperity of businesses and the country alike, the time to prepare is right now.