Integrating the sides of the business is challenging but it can facilitate improved communications, collaboration and coordination across both functional and organizational boundaries.
The pandemic has exposed how volatile supply chains can be and how risky it is to depend on a single supply chain. India is offering land to foreign investors who wish to reduce their reliance on China.
Modern-day supply chains are one of the most extraordinary achievements of human coordination. The understanding of the supply chain today is shifting from thinking of it as a linear single chain to a nonlinear networked chain.
QUAD allies Australia, Japan and India have come together to establish a supply chain resilience initiative (SCRI). They’ve struck a Supply Chain Pact with a mission to challenge China’s dominance as an exporter hub.
Partnership with third-party logistics is not complicated as it may appear. It's almost like having fractional ownership of a warehouse, instead of you having to own a big facility and pallet racking.
For a long time procurement has focused on strategic sourcing and contract negotiation as a way of delivering savings to a business. But now more and more businesses are looking beyond that point to post contracts to deliver real value to the business.
The companies can leverage the combination of AI and IOT to enable an autonomous supply chain.
Everything that is enabled by technological advancement creates a platform for the digital supply chain.
So what can you do to mitigate risks and minimize the possibility of exploitation?
Blockchain is one such technology predicted to help in connecting several players and handoffs within the supply chain industry.