The supply chain ecosystem won’t revert to its pre-pandemic state. With this in mind, manufacturing organizations are placing top priority on modernizing procurement technology.
The luster of China as a source of low-cost production has been progressively fading, and the push for more responsible supply chains extends well beyond measuring carbon emissions.
While ESG efforts have long aimed to increase transparency, many leaders are realizing that we’re moving past bare-minimum standards into an era of full visibility.
For some supply chain managers, the upheavals of recent years have justified their entrenched approach of relying on excess inventory as an insurance policy. They’ve learned the hard way that old methods don’t cut it anymore.
The pandemic has inflicted serious damage in the last two and a half years, but there may be a silver lining for companies smart enough to take advantage of the opportunity to develop a more resilient supply chain.
Procurement orchestration plays a crucial role in ensuring the efficient and successful acquisition of products and services. But very little of the past few years could be called efficient and successful.
Consumers worldwide will buy or boycott a brand solely based on its level of compliance with environmental, social and corporate governance (ESG) requirements.