Child Labor: A Strategic Guide for a Path Forward
Supply chain leaders play a key role in addressing the ongoing crisis of underage workers
October 03, 2023 | Supply Chain Software
In recent years, most businesses have seen how unforeseen events and supply chain disruptions can hamper operations and business continuity. Yet many of them do not have the capability to predict such events.
What they do have though is a massive amount of data – structured as well as unstructured – that is generated from different sources in their supply chain.
They must consolidate and make sense of all this data to identify risks and mitigate their impact.
September 29, 2023 | Cost Management
Interest rates in most economies continue to be high, impacting borrowing and working capital for businesses.
From keeping rates near-zero for years, central banks have been steadily raising borrowing costs because of runaway inflation – a direct result of high demand for products and services and an easy access to capital from the various COVID-19 financial stimulus packages.
Interest rates in the Euro Area since January 2022 have increased from -0.5% to 4.25% as of September 2023 while in the U.S., the rates are up to 5.5% from 0.08% in the same period.
September 22, 2023 | Procurement Strategy
Salesforce’s latest State of IT report found that almost 90% of IT leaders expect generative AI to soon play a prominent role at their organizations. And, its March survey of 500 IT decision makers revealed that most (57%) believe generative AI is a game changer.
September 21, 2023 | Supply Chain Strategy
Supply chain fragility has emerged as a significant concern in the last few years.
Disruptions, whether caused by natural disasters, geopolitical tensions, or unexpected events like the COVID-19 pandemic, can cripple even the most robust supply chains.
To address this challenge, businesses are rethinking their supply chain operations, adopting innovative strategies and leveraging technology to build resilience while simultaneously achieving efficiency and sustainability goals.
Here are five ways best-in-class organizations are creating antifragile supply chains.
September 15, 2023 | Inventory Management
Over the past three years, retailers panic-bought, resulting in more inventory on hand than at any time in recent memory.
The crimson-colored bars in the data graph below highlight the huge volume of inventory companies built up, driving supply chain disruptions.
As a result, over the past 12 months, retailers were forced to aggressively draw down stockpiles using deep discounts and incentives to squeeze margins and cash. It has been a very challenging year.
The stakes are even higher this holiday season.
Supply chain leaders play a key role in addressing the ongoing crisis of underage workers
August 30, 2023 | Supply Chain Strategy
From procurement and inventory management to fulfilment, logistics and distribution, supply chains have become increasingly complex yet vital for all businesses today. And as uncertainty continues to increase, there is an immediate need to streamline supply chain operations.
While many businesses understand the importance of leveraging technology in this endeavor, they do not have the required capabilities, resources and infrastructure.
The presence of multiple stakeholders in supply chain operations further complicates their problems.
August 22, 2023 | Supply Chain Strategy
E-logistics, also known as e-commerce logistics, involves harnessing the internet and digital technologies to oversee the transportation and distribution of goods.
As businesses increasingly adopt digital tools to bring efficiency into their logistics and supply chain management efforts, e-logistics has evolved to encompass technology-driven solutions for inventory management, warehousing, storage, pickup and delivery services, as well as the optimization of customer experiences and expectations.
August 17, 2023 | Inventory Management Software
As a business owner, can you ensure that your customers get what they need when they need it? Do you always have sufficient inventory on hand to meet demand?
Many a time, there is a discrepancy between inventory count on record and the actual stock in the warehouse. This can be embarrassing, especially if you have to fulfil a large order.
August 14, 2023 | Supply Chain Strategy
Sourcing diversity has become key to strategic fortification amid uncertainties in supply chains.
Drawing from a narrow, homogenous supplier base can bottleneck an organization’s potential for innovation and resilience.
Working with suppliers from various backgrounds, including minority-owned businesses, different global areas, and a range of industry sectors, provides an array of fresh perspectives and solutions. Each supplier, with its distinctive vantage point, can challenge conventions and introduce non-traditional methodologies.