How can supply chains transform from fragile to agile?
Mar 8, 2024
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Delving into the urgent need for businesses to strengthen their supply chains amidst geopolitical, environmental, and technological shifts. Discussing the challenges faced by global supply chains and the importance of resilience, technology integration, and collaboration. Exploring the evolution towards diversified sourcing strategies, technology-driven operations, and risk mitigation. Highlighting the trend towards localized and flexible supply chains, along with strategies for companies to embrace future opportunities and drive growth.
Prioritize supply chain resilience by integrating it into business strategy using AI and contingency plans.
Businesses must adapt to the new global economy by rebalancing business models amidst ongoing disruptions.
Deep dives
Building Resilient Supply Chains for the Future
Companies need to prioritize supply chain resilience by integrating it into their business strategy. This involves identifying key constraints, creating contingency plans, breaking down internal silos for collaboration, and embracing technologies like AI to manage disruptions effectively.
Adapting to Continuous Disruptions in Global Supply Chains
Businesses are facing a new normal in the global economy characterized by rising cost factors, geopolitical tensions, and increased importance of ESG. Disruptive events like COVID-19 have accelerated the need for companies to find alternative sources of suppliers, talent, and locations to rebalance their business models.
Impacts of Supply Chain Disruption on Businesses and Society
Supply chain disruptions can lead to higher prices for consumers, increased carbon footprint, trade disputes, and regional conflicts. Companies are realizing the importance of building resilient supply chains to navigate challenges and seize future opportunities amidst ongoing disruptions.
Supply chains are the lifelines of our global economy—quietly connecting and supporting numerous facets of business operations and everyday lives. In Take On Tomorrow’s final Series 2 episode, hosts Lizzie and Ayesha delve into the seismic shifts rattling these critical networks with Darcy MacClaren, Chief Revenue Officer for SAP Digital Supply Chain, and David Wijeratne, a partner with PwC Singapore in the International Growth Practice. Together, they reveal how geopolitical, environmental, and technological forces are creating an urgent imperative for business leaders to “de-risk” and strengthen their supply chains—while also spotlighting the opportunities that exist for those who adeptly navigate this new terrain.
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