For those working within supply chain management it is a challenging time. Recent years have seen volatile shipping markets, trade wars, an unprecedented pandemic, and mounting pressure upon all industries to take steps towards decarbonization.
Amidst this, supply chain professionals must manage an ever-increasing intricacy of networks and product portfolios together with pressure to keep their supply chains cost-efficient and competitive. With the constant advancement of technology; buzzwords such as IoT, automation, big data, blockchain, and other innovations have shaken up all areas of business in recent times.
These trends, while more developed and commonplace than just five years ago, are still young and will continue to disrupt industries as market leaders continuously accelerate digitalization agendas as they seek ways to improve performance and stay ahead of the competition.
By using data and analytics as a tool when planning and looking for optimization potential, value creation opportunities are highlighted early enough to be able to capitalize upon them. Finite and time-sensitive opportunities where profit margins are slim will become recognizable, and real-time decision-making will generate real value across the supply chain by reducing costs, waste, and the environmental impact of sub-optimal planning.