COVID-19 produced an inequality between supply and demand of goods, greatly affecting supply chains globally.Industries across the globe restart to battle the Great Supply Chain Disruption. They’re striving to optimize execution, diminish risk, enhance dexterity and determine ways to gain a real competitive benefit. To attain these goals , it will be necessary to overcome today’s intense labor challenges, maximize the latest digital transformation capabilities, streamline sourcing and inventory management, prioritize customer-centricity, and much more. Getting ahead of key trends will enable supply chains to proactively shape a successful, sustainable future.
Read on to our article to discover what’s new in supply chain management in 2022.
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Supply chain talent is critical to supporting ongoing industry advances and frameworks. People at all levels of supply chain should expect to experience new ways of working. Anticipate a intersection of training, plus better pay and benefits for existing employees; as well as hiring talent with foundational skills in data analytics. Organizations must be creative when attracting, reskilling and retaining talent, as traditional approaches may not be as relevant to future supply chain needs.
There’s no excuse for us to run the supply chain in the dark anymore. Supply chain managers must use the general SCM technology to forecast inventory and delivery to know what to expect and how to deal with it before the rush begins. Supply chain tech today gives us the opportunity for rising visibility into supply chain data to never-before-seen levels.
Big data and predictive analytics are still an untapped resource that can potentially provide insights which help anticipate or respond to events or disruptions. But before insights and analytics can be leveraged for a better supply chain, there’s a huge task at hand for the many organizations that need to first collate data points from all sources and align them to their business operations.
Visibility will be the major purpose for organizations under pressure to achieve true transformation, satisfy customers and capture new markets. People are willing to pay more for ethical and responsible business operations, and this will be a catalyst for investment in supporting technologies. For instance, as the ability to track and trace goods to the source is increasingly expected by consumers, the internet of things will continue revolutionizing real-time visibility. Look for new business models and heightened trust and collaboration within and beyond organizational boundaries.
Cybersecurity is essential to defending networks from cyberattacks, which persist to be a dominant threat to supply chains around the world. The explosion of data and data-driven organizations through earlier mentioned digital tools is creating many more areas of vulnerability. This interconnectedness means supply chain partners can inadvertently expose each other and their clients to privacy breaches, identity theft and worse. Expect greater collaboration when safeguarding networks, devices, people and programs. In addition, more organizations will choose to invest in redundancy, firewalls, and advanced antihacking technologies and worker training.