Today global supply chains are facing unprecedented challenges—from inflation and labor shortages to cyberattacks and climate change. The traditional focus on efficiency has left businesses vulnerable, exposing weaknesses like fragmented supplier relationships, rising costs, and limited visibility into risks. The result? Unpredictable spending, inefficiencies, and increased exposure to disruptions.
This podcast, based on an Economist Impact report, offers a roadmap to transforming supply chains into strategic assets. It explores how businesses can prioritize resilience, agility, and innovation to navigate these challenges and gain a competitive edge.
What You'll Hear:
- Learn how 73% of executives are strengthening partnerships with suppliers
- Discover the role of control towers, predictive analytics, and stress testing
- Strategies for seamless team integration and cultural alignment
PODCAST SUMMARY
Global supply chains are under unprecedented pressure, grappling with challenges like inflation, cyberattacks, labor shortages and climate change. Businesses have traditionally focused on efficiency, but this approach has left them vulnerable to disruptions. Key issues include fragmented supplier relationships, rising costs, and a lack of visibility into risks and operations.
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The fallout is significant—unpredictable spending, operational inefficiencies, and increased vulnerability to external shocks. To succeed, companies must prioritize resilience, agility, and innovation, turning their supply chains into strategic assets.
Critical Strategies for Creating Next Gen Supply Chains
This podcast based on Economist Impact report, sponsored by GEP, highlights critical strategies for transforming supply chains. Collaboration with suppliers emerged as a key priority, with 73% of executives focusing on strengthening these partnerships. Advanced technologies, such as control towers, are empowering companies with real-time visibility and predictive analytics to anticipate disruptions.
Diversification also plays a pivotal role, with 54% of executives seeking to reduce reliance on single suppliers or regions. This includes near-shoring production, optimizing supplier networks, and adopting flexible procurement strategies.
Driving Resilience and Sustainability
The podcast underscores the growing importance of supply chain leaders as strategic thinkers. Armed with tools like AI and stress testing, they are managing risks, driving innovation, and ensuring sustainability across operations. From tracking carbon emissions to reshaping supplier relationships, these leaders are redefining the future of supply chain management.
Driving Resilience, Savings and Sustainability
Companies embracing these strategies are achieving improved resilience by leveraging proactive planning and diversification to mitigate risks and disruptions. They are also realizing significant cost savings through smarter procurement practices and the adoption of advanced technologies that reduce inefficiencies. Additionally, advanced tracking systems are enabling businesses to meet sustainability goals by ensuring adherence to environmental and social governance standards.