There is little doubt that supply chains globally are in the midst of an evolution that is reshaping not just how they need to organize and operate, but also how the profession of supply chain management is defined.
With the power of today’s technological advancements connecting and integrating all stakeholders within the value chain, and also processes and functions across entire networks, dynamic new business models are emerging and are enabling businesses the opportunity to view their supply chain as an adaptable ecosystem of people, processes, capital assets, data, and technology. Those companies that invest wisely in the technology that provides increased supply chain visibility that balances supply and demand can make rapid responses to disruption. Deploying a platform such as that offered by Gravity gives the orchestrated visibility and transparency that enables decision-making with certainty. Businesses can ensure they fulfill their customer’s needs and requirements faster and more comprehensively than ever before.
REEFKNOT INVESTMENT conducted research, 16-20 March 2020 entitled ‘Survey of macro-economic impact to Supply Chains’ that surveyed a cross-section of supply chain professionals to include stakeholders with business supply chain responsibility such as shippers, BCO’s and CIO’s.
REEFKNOT concluded that 2020 kicked off with a tumultuous start, not only with the US-China Trade War still ongoing but also with the added double impact of Covid-19 and the Oil Price War.
With the backdrop of these macroeconomic developments, REEFKNOT sought to establish their respondents’ perspectives for not only their business, but also that of their partners, clients, and suppliers to understand more about the potential mid-long term impact on supply chain strategies and planning.
The results make for a compelling read and firmly highlight the need for businesses to invest in digitization and leverage the power of technology to enable mitigation of risk and decision making to get made with certainty, especially within turbulent times.
Data source: REEFKNOT INVESTMENTS