Building structural resilience, and putting the right solution in place to suit your unique brand now will ensure that firms can emerge from a volatile economy and recession stronger.
Managing a supply chain is a complex task which has only grown more intricate in recent years due to globalization, a volatile geo-political landscape, technological advancements, and the increasing demands of consumers.
The problem of modern slavery — coercing labor from ethnic minorities and economically disadvantaged adults and children — has lurked in global supply chains for decades. But trade laws in recent years have made it crucial for businesses to address this risk now in their supply chains — or face serious consequences.
Technological advancements like RFID and GPS have revolutionized supply chain management, providing visibility and rapid response capabilities, but also increasing risks such as cyber threats. A combination of physical barriers, technological solutions, and procedural controls creates redundancies that enhance resilience against threats like theft and tampering.
In today's fast-paced logistics landscape, actionable data is critical to meet the demands of consumers' expectations. Navigating the complexities of data management amid labor shortages, volatility, and evolving consumer behavior poses significant challenges.
Allianz estimates that global trade will increase by 2.8% in 2024 — below the average of 5% — blaming that on disruptions brought on by the Red Sea crisis.