With companies’ continued reliance on global supply chains, managing environmental, social, and governance (ESG) risks is becoming increasingly important. ESG risks refer to potential negative impacts on a company’s environment, society, governance and operations. These risks can arise at any point in the supply chain and can have serious consequences for businesses if not properly addressed. One example of an ESG risk in the supply chain is climate change and emissions. If a company’s supplier is not taking steps to reduce their carbon footprint, it could lead to higher emissions and contribute to climate change. This could result in regulatory consequences and damage the company’s reputation and potentially lead to financial losses.

 The logistics and supply chain industry is fast embracing technology in its quest to keep up with the trends in the digital age. With the fast pace of technology, businesses must move with speed to advance and become competitive. Technologies like machine learning (ML), artificial intelligence (AI), blockchain, supply chain integration and the internet of things (IoT) are proving useful in this quest because they will ensure you lead the race. Here are some logistics trends you need to watch this year.

If you are a supplier, manufacturer or retailer, the supply chain is an important component of your business that needs to be taken care of and understood. For most companies, managing supply chains is often a challenge. Most of them miss the opportunities by failing to have a supply chain that adds value because their processes have many errors that cost the company its time and money. Even if your supply chain is doing well, you might still be missing some important opportunities for optimization. The more you can correct these problems and void mistakes, the more your company will get the most from supply chains. Before you can correct the problems in your supply chains, you must first identify them. Here are some common mistakes in the management of supply chains.