Top 10 business solutions most businesses need during this pandemic time.
1) One of the important and obvious business solutions needed during this pandemic time is ‘Work from Home’.
2) Another solution which companies are using these days is operating on the minimum possible workforce.
3) If we take something positive from this outbreak from a business perspective then we could be able to locate some business opportunities through this. For example, now most of the companies at least those are in the service sector are working remotely. This is done through may be some platform or software. So, companies can expand their portfolio by entering in these sectors, one can provide software which provides facility to work without any interruption from home. A lot of companies are using video conferencing apps to conduct the meeting. So, one can come up with such an app which provides video calling and of course, there should be some features which are not present in competitors app. The switching costs must be low or negligible.
4) Companies should try to reduce operating costs. This may contribute some to increased profitability. They should maintain minimum inventory as inventory comes with a certain cost. Companies should plan capacity optimization. Also, companies forecast the demand for the products and produce accordingly.
5) There are some businesses which includes groceries or say FMCG products, hotel chains can offer a take away facilities. Also, there are lot of companies which use biometric. As we all know the current pandemic situation can be controlled by breaking the chain. So, the companies which are in finger print scanner can focus more on face recognition or retina recognition.
6) There might be a case that some products which are being offered have to go through different processes or have longer supply chain, might affect sales because it might affect safety. Companies must ensure that perception about the product is unhampered. They should assure quality of their product.
7) Companies should plan as per the market. Now the demand conditions are uncertain. So, first task will be to identify the loopholes and work accordingly.
8) Companies can keep their customers engage in this tough time. So that they can retain their customer base and it can help to attract more customers as well. For example, LinkedIn is providing 16 courses for free. Uber took decision to deliver medicine doorstep in Kolkata. In this way, company can manage to continue its business.
These are top business solutions needed during this pandemic time. It will help your business to survive in this difficult situation.
Written By- Preeti Jha, HR Consultant at Futurios technologies