Much of the rhetoric around Brexit has been very political, but the global business community needs to become a bigger part of the conversation, according to Bindiya Vakil, founder and CEO of supply risk management and market intelligence solution provider Resilinc. Brexit is not a local or regional problem — it will impact companies around the world, she said, adding this is a “huge supply chain problem.”
Category Archives: Supply Chain
Food product traceability continues to be challenge for companies, especially in the event of a food recall. An in-depth, multi-year research project led by Notre Dame Assistant Professor Kaitlin Wowak, who has a Ph.D. in supply chain management, aimed to gain insight on what exactly is hindering food product traceability. One would assume food companies know where their products are coming from and where they are being distributed, Wowak said. However, the complexities of companies’ supply chains make that process harder than it sounds.
A majority of manufacturing sourcing professionals expect to increase or maintain their supply base this year, with buyers looking to source goods from new areas around the world. Nearly 40% of manufacturing buyers surveyed for the latest MFGWatch 2016 report expect to grow their supply base in 2016. Thirty-seven percent said they will maintain their current supply base. The MFGWatch report, which identifies trends and issues in the U.S. manufacturing industry, showed manufacturers are generally optimistic about the year ahead and expect their firms to grow in 2016.
Companies are increasingly embedding sustainability resources into their supply chain organizations. The latest State of the Profession report from GreenBiz, which examines how the role of sustainability executives has evolved over the years, shows a growth in supply chain sustainability efforts. In 2014, the number of companies dedicating sustainability resources to supply chain efforts grew 10%, according to GreenBiz research. In 2015, that number jumped to 26%, showing significant growth in the last two years.
The latest wave of the industrial revolution, known as “industry 4.0,” is demanding manufacturers make major changes to business functions, including supply chain operations. The impact advanced technologies and data analysis is having on the industry is huge, and companies are needing to change how they operate to remain competitive. Industry 4.0 and the innovative technologies shaping this revolution were a major focus this week at the SAP Manufacturing Industries Forum 2016.
Designing a large supply chain can be tricky. You'll need to be comprehensive, and Pierre Mitchell, chief research officer at Spend Matters, is here to walk you through it with this complimentary research brief, Design Thinking in Procurement: Re-imagined Supply Services in a Digital Value Chain, sponsored by Scanmarket. Download your copy here.
Supply chain and procurement organizations are aware of the benefits data analytics can provide, but recent research has shown most companies lack a clear strategy on applying the data to make better business decisions. Often, organizations are bogged down in deciding exactly how and where to use supply chain data and how exactly it will provide value for the organization.
With the digital supply chain in full effect, we can't help but take a step back and look at the disrupters who are leading the change. Procurement organizations will need to recognize these digital trends and how they affect the broader supply chain whether they are physical or financial. Join the Spend Matters team as Jason Busch, founder and head of strategy at Spend Matters, and Pierre Mitchell, chief research officer, convene on Monday, June 27, at 10:30 a.m. CDT, for Digital Disruption and the Future of Procurement: Trust, Contracting and Relationships.
Supply chain operating network provider Elemica will be acquired by private equity firm Thoma Bravo LLC. The two companies announced the deal earlier today but did not disclose financial details. In a press release, the two companies said the acquisition will allow for a greater focus on resources and investing in next-generation technologies and expand Elemica’s supply chain solution capabilities. According to Elemica CEO John Blyzinskyj, the acquisition also means a faster time-to-market for supply chain solutions.
Why is the cloud important? For procurement applications in the cloud there is an inherent “democracy.” Participants, without regard to role or particular software instance, effectively participate on the same platform. This does not in itself mean that there is a neutralization of benefit for one party or the other, but it does mean that while participating in the exchange of value, there may be a greater opportunity for collaboration or discovery. Moreover, cloud levels the playing field internally (for business users) and externally (for suppliers and trading partners). And it does so without regard for size, IT skills, experience and budget (within reason).
As they relate to complexity and risk in the supply chain, the terms agility, resilience, responsiveness and adaptiveness are all thrown around in the popular supply chain press these days. All of these terms do share similar associations but shouldn’t all just be lumped together in the same big semantic stew. In this analysis, we’ll offer up a framework that may be useful in thinking about these terms and applying them to your supply chain.
Big data analytics has a number of applications within the supply chain. Yet there is still some lag in adoption of solutions that help mine through the wealth of information that can lead to an increase supply chain visibility, reduce business risks and other benefits. Recent research has shown while the majority of companies understand the opportunities big data presents, fewer are actually implementing analytic capabilities and integrating these tools into supply chain functions.