Tag: Supply Chain Visibility
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What Does it Take to Manage a Global Supply Chain Ecosystem?
Why Is Supply Chain Visibility Important?
What Is Preventing Visibility in Multi-Tier Supply Chains?
How Can Manufacturers Drive High-Performance Supply Chains?
What Is Supply Chain Visibility?
Conventional thinking may have led some businesses to center their supply chain strategy around obtaining the most profitable cost, even when doing so meant assuming additional risk or lower-quality service. A supply chain that’s optimized for price alone, however, doesn’t account for today’s market demands or the complexity that’s involved in multi-enterprise, multi-tier, multi-mode, and multi-direction order flows. Within a network, there are potentially dozens of different touch points and stakeholders, all of which may have distinct systems and processes in place. Without end-to-end supply chain visibility, information becomes siloed, creating unnecessary and corrosive segmentation.
The pandemic helped expose vulnerabilities in the global supply chain ecosystem, causing shortages across sectors, from medical supplies to automobiles. The recent acceleration of supply disruptions made international headlines, but the trajectory that led us here started years before COVID-19. According to survey information gathered by McKinsey & Company, “supply chain disruptions cost the average organization 45% of one year’s profits over the course of a decade,” historical context that helps demonstrate persistent challenges to supply chain planning and logistics. The same survey also showed almost 80% of respondents said they “need to improve, and to invest in digital planning to increase supply chain visibility.”
Why are executives so concerned about supply chain visibility, specifically? The answer varies, depending on who you ask, their definition of “end-to-end visibility,” and the nature of their business.
Top 5 Trends for Supply Chain Control Towers in 2022
Supply chain management has become increasingly complex and involves more coordination among network partners. Control tower technology was introduced to provide greater visibility and more efficient collaboration within the evolving ecosystem. Over time, the technology has adapted from a narrow solution that spanned transportation management to a more comprehensive and holistic capability to fit the growing demand for wider system integration, efficiency, intelligence, and speed. Here are a few of the most exciting and critical supply chain control tower trends in 2022 that help build flexibility, agility, and resilience.
How Will Tariffs Affect Sustainability Efforts for Global Manufacturers?
Many factors affect carbon dioxide (CO2) emissions during steel production, including capacity utilization, facility age and upkeep, the electricity grid, and environmental regulations. Secondary steel production, which makes up about 70% of the steel that’s produced in the US, releases significantly less CO2 than primary steel production. As a result, the US is looking to create incentives for other countries to use this method over primary steel production.
While such a move certainly bodes well in the overall drive to encourage more sustainable practices, it also underscores how variable the market and rules of the game can be. Short-term incentives are helpful, but building supply chain resilience and strengthening sustainability practices will also take investment in supply chain technology that enables dynamic partnering, smarter order and transportation management, and better analytics to regularly – and effectively – shift and adapt to the ever-evolving playing field.
5 Key Supply Chain Technology Strategies that Fueled Resilience in 2021
Over the two years since the start of the pandemic, volatility has become the new normal: hampered by unexpected closures, service delays, and material scarcity, businesses today face unprecedented challenges. Lead times across industries reached record highs in 2021, and the continued need for safety regulations further complicated supply chain planning and capacity management. Governing bodies relaxed regulations for a time, only to then reinstate those same restrictions again during a surge.
Reopening has been halting and painful, but 2022 is expected to herald economic recovery thanks to broad population immunity and medical advances. As you plan your 2022 technology strategy, here’s a recap of the critical capabilities that enabled businesses to build supply chain resilience last year.