You need new KPIs
Your business needs to change to survive. You need new KPIs.
Seems to me business has three big new challenges ahead:
- Businesses need data on customer purchasing – all aspects of what they now buy, why they buy, and how they buy. And look at what has changed and how they need to respond (and see that this may be opportunities as much as problems).
- Supply chains are likely to need re-engineering to be more regional, and more robust. No longer focused on cheapest, but on regional reliability and resilience. There are implications for global trade vs regional trade here, but that’s another issue!
- And most important of all, businesses need to be far more aware of market KPIs. They need to track many more metrics about their business, supply chain, customers, as well as about the countries they span. So they need to know what metrics are important, and be risk aware.
Some of this is internal data, but a lot is external market data. Businesses need market research!