Impact of Supply Chain Risk Management on Marketing Strategies in Times of Economic Uncertainty

Abstract

The qualitative study examines the impact of supply chain risk management (SCRM) on marketing strategies during economic uncertainty, highlighting the intricate relationship between these two vital domains. The research, conducted via comprehensive interviews with industry leaders from many industries, analyzes how firms mitigate supply chain risks and modify their marketing strategies in response to difficulties like natural catastrophes, geopolitical conflicts, economic recessions, and pandemics. The results indicate that these risks substantially affect marketing initiatives by resulting in supply shortages, delays, heightened prices, and demand variability, requiring swift modifications in promotional activities, pricing strategies, and consumer communication. Essential tactics for integrating Supply Chain Risk Management (SCRM) with marketing include using technology for real-time supply chain oversight, fostering robust supplier relationships, diversifying supply sources, and improving communication and cooperation between supply chain and marketing teams. These techniques empower firms to improve their resilience and adaptability, ensuring that marketing tactics are congruent with the changing dynamics of the supply chain. The report outlines issues like organizational silos, insufficient cross-functional cooperation, opposition to change, and constrained technical capabilities, which may impede successful integration. Overcoming these obstacles by encouraging cooperation, investing in technology, and facilitating change management is crucial for effective integration. This integration results in higher supply chain resilience, improved customer happiness, increased marketing agility, and a fortified competitive position. The study emphasizes the need of a comprehensive and flexible method for integrating Supply Chain Risk Management with marketing strategies, offering critical insights for firms aiming to manage economic volatility and maintain growth in a swiftly changing landscape.

Keywords: supply chain risk management, marketing strategies, economic uncertainty, supply chain disruptions, organizational resilience, cross-functional collaboration, technology integration