Global events continue to challenge supply chains
In the past few years, global supply chains have been disrupted by several “black swan” events such as the COVID-19 pandemic, chip shortages, and even wars. Although companies have long contended with global disruptions, the ever-evolving nature of these disturbances, combined with the expansive reach of the global operational network, magnifies their impact on supply chains. This necessitates a focus on building resilient supply chains.
As per Deloitte’s 2023 Global Chief Procurement Officer (CPO) Survey, 69% of CPOs indicated that enhancing risk management and developing resilient supply chain is a top organizational priority , while 61% believed that increasing supplier collaboration is their top strategy to deliver value.
Supply chain collaboration is key to building an agile and responsive supply chain that can withstand unforeseen challenges. By working together, supply chain partners can gain visibility into each other’s networks, identify, manage, and mitigate risks proactively, develop contingency plans, and innovate to adapt to changing market conditions.
Collaboration is key for end-to-end supply chain…
