The supply chain is broken – and may never be fixed: Chaos for manufacturers and distributors of goods has yet to subside and bottlenecks are still seen across every link. Relying on legacy partnerships and one-size-fits-all solutions to deliver the same tried-and-true processes means you will be left behind. Next year will not be for resting – now is the time to diversify, connect, and shop around. Technological advancements, organisational design, collaboration tools, and innovative supplier management solutions are here now and ripe for the picking to become more sustainable and agile than ever before, which ultimately reduces risk.
Supply chains do not have to be lightning fast to succeed: Slow the supply chain down – society will be better for it. Companies need to be more thoughtful and focus on their supply chain footprint, modernise their technologies, and build on to their capabilities. Digital enablers such as IoT, data analytics, and advanced control towers will improve insights and help smooth processes across the supply chain, making it more connected and agile than ever before. Speed will come for free through reliability. And will be in line with the growing shift in consumer mindset for ethical operations, driven by the rising younger generation who value purpose and sustainability, over speed.