Supplier diversity, AI readiness and circularity
One of the impacts of the global pandemic has been to elevate supply chain management from a back-office business function to a C-level strategic priority. As 2025 approaches, all indicators indicate that optimizing supply chains to meet the needs of a post-pandemic world is more important than ever for most industries, including retail. Also read: How supplier diversity can help you navigate recent manufacturing supply chain disruptions To remain competitive, companies can no longer rely solely on the supply chain measures of the past, such as reducing costs, minimizing inventory and improving service. A recent report from Bain & Company CEO Priorities Survey Highlights the need for leaders to balance traditional supply chain priorities with new supply chain priorities such as increased resilience, increased sustainability and responsiveness to customer expectations. Based on extensive industry research and discussions with our customers and the wider retail community, TradeBeyond’s new "Retail Procurement Report: Supply Chain Trends to 2025" Highlights the top concerns and…
How geopolitical forces are reshaping global supply chains
In recent years, geopolitical events have exposed the fragility of global supply chains. The pandemic, the Russia-Ukraine war, and the Israeli-Gaza conflict have all clearly demonstrated the fragility of supply lines. These networks are primarily designed to reduce costs by taking advantage of low-cost labor and materials, but are easily disrupted by geopolitical events. To better understand the dynamics reshaping global trade, TradeBeyond’s new Retail Sourcing Report: Insights and Indicators for Q3/Q4 2024 provides strategic insights into how supply chains are adapting. For example, conflict in the Middle East has made the Red Sea route unviable, forcing container ships to take a longer, more expensive route around the Cape of South Africa. Combined with Asian port congestion that has limited container capacity, container shipping costs are being pushed up to pandemic levels. At the same time, Russia's conflict with Ukraine has led to a change in trade patterns, with Russia cutting back on its large energy exports to circumvent sanctions…
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