By Patric Timmermans, Columbus Global
Organizations across the world are looking for ways to revamp their businesses with renewed urgency today—thanks to the massive disruption the pandemic has caused (primarily) to their supply chains.
The pandemic has exposed the inefficiencies in supply chains that outdated technology, old business models and the reluctance of supply chain professionals to move to Cloud-based systems have caused. In an ecosystem where threats to the supply chain are not restricted to a pandemic—such as this—leaders are increasingly adopting digital capabilities to protect their supply chains from future natural/ intentional disruptions. In the ‘new normal,’ companies across industries are increasing their investments in advanced technologies—from Artificial Intelligence (AI) and Machine Learning (ML) to Blockchain and intelligent automation—to improve supply chain flexibility and adaptability to disruptions and make them resilient.
What is a resilient supply chain?
Unpredictable and unprecedented events—natural or otherwise—throw up several challenges. Organizations which confront, and overcome, such unforeseen pitfalls are able to thrive eventually. Such businesses have in common supply chains which reduce complexity and uncertainty by enabling end-to-end visibility and traceability.