Deloitte recently conducted research to determine the correlation between trust and performance in supply chains. The research revealed that best-in-class supply chain organizations are, on average, six times more trusted than their lowest-performing counterparts. The research also identified several key areas that organizations can focus on to build trust and improve performance in their supply chains. These areas include developing a culture of trust, leveraging technology to increase transparency, and creating a customer-centric approach to supply chain management.

SupplyChainBrain recently published an article outlining a four-step methodology for creating leaner and more effective supply chains. This methodology is composed of four steps: understanding the supply chain, identifying the areas of improvement, creating a plan of action, and implementing the plan. The article explains that understanding the supply chain is the first step, as it allows companies to identify areas of improvement and develop a plan of action. The second step is to identify the areas of improvement, which can be done through data analysis and customer feedback. The third step is to create a plan of action, which should include a timeline, budget, and resources. Finally, the fourth step is to implement the plan, which should be done in a timely and efficient manner.

After major supply chain disruptions over the past several years, there was a need for modernization in global cargo trade. Startup company Loop is focused on unlocking profit that's trapped in the supply chain with modern audit and pay system. Loop Co-Founder and CEO Matt McKinney explains that the company is solving an important problem in which invoice costs do not always match expected contracted costs, leading to companies losing unnecessary profits and decreasing their working capital. Loop is primarily focused on over-the-road trucking, but they have also had customers asking for exposure on ocean and air.

Supply chain management is a crucial factor in the success of businesses in the competitive global marketplace. Emerging technologies such as Artificial Intelligence (AI) and Machine Learning (ML), Internet of Things (IoT) and Real-Time Tracking, and Blockchain are revolutionizing the way businesses handle supply chain management. AI and ML algorithms can analyze large volumes of data to generate predictive and prescriptive recommendations, which can help businesses improve route planning, demand forecasting, and inventory management. IoT sensors attached to goods, machines, and other transportation provide useful information on temperature, humidity, position, and other factors, allowing for real-time visibility and the ability to respond quickly to disruptions. Blockchain technology is also increasing transparency and traceability, allowing for better tracking of goods and materials.