Global supply chains are by their very nature complex, but data analytics offers an opportunity to simplify planning and forecasting, and create more resilient sourcing, production and distribution, says Melissa Koeman, client executive with Varis.

Access to critical data varies widely among companies. Where it does exist, it’s often affected by a series of fundamental flaws.

The ocean freight industry is greatly in need of a way to automate and digitize the contracting process — and so is every other stage of the supply chain, says Matt Marshall, senior vice president with NYSHEX.

A rising Consumer Price Index directly correlates to the cost of financing equipment, but it can also have a significant ripple effect on other cost centers, such as maintenance and repair.

Nearly every company is involved in some form of digital procurement transformation. But how many are actually seeing it pay off? 

The manufacturing supply chain has been bruised and battered in the last few years, and the hits keep on coming: the pandemic, extreme weather, geopolitical challenges, the Great Resignation, and a wave of retirements – and now, global inflation.

Does blockchain truly hold promise for creating a more efficient supply chain, or will it be dragged down by the lead weight known as Bitcoin? 

To help safeguard their supply chains against future unpredictable events, organizations can implement a master data management (MDM) strategy as a foundation for strong risk mitigation during times of crisis.

If you don't have a complete view to your global supply chain data, you hamstring your profitability, says Hannah Testani, chief executive officer of Intelligent Audit.