Inventory is evil. Inventory is essential. The two statements aren't necessarily contradictory. Not if companies can figure out a way to determine the absolute minimum amount of stock needed to keep customers happy, while maintaining a tight lid on costs.

Perry Santia, senior vice president of Genpact, provides the "big picture" of how high-tech supply chains are coping with the challenges of serving customers today.

There is only so much that a single organization is going to be able to achieve to improve the impact it has on the environment or society, without collaborating with the wider aspects of its supply chain.

GE Capital Fleet Services has introduced Driver Accountability, a service that is intended to manage truck driver violations and related expenses.

The cost of Somali piracy to the global economy has declined by 12.5 percent since 2011 as attacks fell sharply, a survey showed, but the cost of armed guards to protect ships soared. The annual report by the Oceans Beyond Piracy advocacy group estimated the cost of piracy at $5.7bn to 6.1bn in 2012.

A British supermarket chain has recalled a beef product after traces of the powerful veterinary drug phenylbutazone, which is banned from the human food chain, were found for the first time in an item that had been on sale in stores here.