Child Labor: A Strategic Guide for a Path Forward
Supply chain leaders play a key role in addressing the ongoing crisis of underage workers
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6 Ways to Optimize the Automotive Supply Chain
November 01, 2023 | Supply Chain Strategy
What is one of the biggest priorities for automotive companies today?
The answer isn’t difficult to guess, considering the production hiccups in recent times due to supply chain disruptions during and after the pandemic.
Yes, for most automakers around the world, the biggest priority today is their supply chain.
Why the Booming E-Commerce Industry Calls for AI-Driven Supply Chain Management
October 31, 2023 | Supply Chain Software
The COVID-19 pandemic supercharged the growth of online shopping, with e-commerce sales skyrocketing.
E-commerce made up 21% of all retail sales in 2020 in the U.S., a huge jump from just 15% the year before. The e-commerce boom is projected to continue with retail e-commerce sales worldwide expected to grow to 7.4 trillion USD by 2025.
3 Ways to Engage in Strategic Cost Management
October 09, 2023 | Cost Management
Inflation, material prices and labor costs have been rising steadily, impacting not only business operations but also profit margins.
Not surprisingly, most businesses are constantly looking for ways to optimize operations and improve profitability in an increasingly uncertain yet competitive environment.
While they think of ways to enhance operational efficiency, they also need to focus on risk management, digital transformation, sustainability goals and several other priorities while meeting increasing customer expectations at the same time.
Future-Proofing Retail Supply Chains with Machine Learning
October 05, 2023 | Procurement Strategy
With a projected annual expenditure of $10 billion in AI for the retail supply chain by 2025, as indicated by MarketsandMarkets, the retail supply chain is undergoing a major digital transformation.
In the fast-paced world of retail, data overload and complex supply chain challenges can often overwhelm even the most established players.
How Predictive Analytics Can Help Build New Supply Chain Capabilities
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.
5 Ways to Free Up Working Capital Amid High Interest Rates
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.
Generative AI in Contract Management: What You Need to Know
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.
5 Ways to Reduce Supply Chain Fragility
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.
To Drive Profits This Holiday Season, Retailers Need to Improve Inventory Management
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.