Trends and the Supply Chain

By 7 October 2020January 29th, 2021Economy

An economic perspective on the new trading economy

Darren Shirlaw explains that you can often see trendlines going back 30 years before they come back into society.

There are three types of trends. Societal trends are the trends that impact the entire human race. There are economic trends; these are what we talk about with the L-shaped recession that we are in right now. And there are consumer trends. How are people consuming, and how is that different from the past?

21st-century thinking is to bring charity into the business and start doing good in the world before you begin to make money.

When social media started, people began calling out businesses that were doing things like using slave labour and putting cancer-causing chemicals in food. Then the trend in society kicked in when people started asking, “Is this ok?”

The Economy

The profiteering of the 20th century has had a light shone on it since the early two-thousands. And since then there’s been a big pull amongst people to say, ‘We don’t want this anymore.’

This is important because at the end of this virus-led recession, there will be a massive impact on us emotionally, and we will not put up with things that were upsetting in the 20th century.

If your business is not purpose-led at the end of this recession, you will struggle to trade without bringing in the charitable aspect.

How it shows up economically, and how we can look at it in detail, is called a supply chain. It’s also called logistics. In businesses we have a supply chain; we have to go out and buy goods and services and bring them in, we bring people in to deliver services, and then we take it out to the client to get paid.

For the economy of a country, we have to get food delivered to people. We also have to provide medical services for people. In this recession, because of the virus, those supply chains have changed completely overnight, and after our supply chain changes, there is a small blip.

‘When businesses step up into product innovation and step up the brand. They can lift the gross profit per person because they can pull the market towards them.’

I’ve been saying to people, don’t panic about food; there is plenty of food in the world. What we haven’t got is the supply chain set up to send it to all of our houses right now. Because many people who supply food used to send it to the restaurants. Well over half of all consumption in the world was done in restaurants, not in our family home. Now we all sit at home saying, ‘Can you send all of that food that used to go to restaurants to my home, please?

If we sit back and look and say, ‘What’s changed in this recession?’ We’re all getting used to working from home, jumping on Zoom and talking to each other. Some people are going to say, ‘We don’t need to go out to work each day, let’s just do it all from home.’ There will be changes to society o the back of the supply chain.

“As an industry we weren’t solving the problems that really mattered. We were disconnected from each other and not leading the way.”

Julie King
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Darren Shirlaw

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