Supply chain discussions were front and center when the financial leaders of the Group of Seven (G7) convened  in Niigata, Japan on Saturday, May 13, 2023. The International Group of Seven is an intergovernmental political forum bringing together the most powerful nations in the world. The seven nations that make up the G7 are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

According to the New York Federal Reserve Bank, international supply chain pressure continues to ease. As of March, The Global Supply Chain Pressure index indicated a reading of -1.06 – the lowest since August 2009.

Global supply chains have become increasingly complex over the past few years as businesses embrace sourcing materials and components from multiple countries and regions. With the COVID-19 pandemic, the fragility of these supply chains has been exposed, and the need for businesses to adapt and become more resilient has been emphasized. As we enter a new era of logistics, here are five trends that will shape the future of global supply chains.

As the demand for products and services continues rising with the increase in the global population, the carbon footprint caused by the demand for high manufacturing capabilities also keeps rising. This is a challenge in the management of the supply chain. For this to be reduced the environmental impact, businesses must find strategies to reduce their carbon footprint. Here are some strategies for reducing carbon footprint in supply chain management in 2023: