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Update Your Supply Chain Initiatives with These 5 Ideas

The supply chain is an important part of any business and the overall organizational strategy. It helps you save money and improve customer satisfaction by reducing waiting times for the in-demand products. Therefore, an efficient supply chain gives you a real competitive edge against other companies in your industry. On the flip side, an ineffective supply chain can consume many resources in your organization. Therefore, it is important to strategically plan to make your supply chain cost-effective, lean, and efficient. Update your supply chain initiatives with these five ideas to serve your business right. 


Looking Ahead: Top 3 Supply Chain Predictions for 2022

In 2022, we find ourselves heading in to the third year of a global health crisis with unparalleled supply chain impact. Repercussions from severe supply and demand imbalances are being felt worldwide. The availability and increasing cost of labor, freight capacity, semiconductors, empty chassis and warehouse storage space will continue to be areas of uncertainty and concern in the coming new year.


RFID Should Be Integral to Your Supply Chain Efforts

Radio frequency identification (RFID) has emerged as one of the leading technologies revolutionizing supply chains and logistics. It is capable of helping enterprises reduce their expenses and become competitive in the market. With the increased competition and pressure from the consumers, retailers must now develop better ways to streamline their operations and optimize their inventories. This cannot be achieved by relying on traditional methods. RFID uses radio frequency electromagnetic fields to transfer data. This technology can be deployed to monitor company activities in real-time.


Your Supply Chain May Still Cause Issues This Holiday Season

The disruption that COVID-19 has caused on the supply chain continues to affect the delivery of products. We have seen an increased shortage of items, with some taking too long to arrive. However, we hope that the ramped-up vaccinations will improve this, leading to the reopening of sectors like the supply chain that are crucial for us. However, with the Delta Variant of COVID-19, we might still have some time to wait before things return to normal. This means that your supply chain may still cause issues as we approach the holiday season.


Define Your Supply Chain by These Winning Traits

Excellence in supply chain management may translate to business success. If you are good in this area, you will likely impress your customers in delivering the right products, in the correct quantity, at the right place, at the lowest possible cost and the right time, and to the correct people.  However, getting it right in the supply chain is easier said than done. Unlike the thinking that excellence in managing the supply chain can be achieved through few steps, the truth is that it goes much deeper and entails many other defining actions and strategies. For supply chain professionals, it means that they must have extra attributes that enable them to stand out. Here are some of the winning traits that should define your supply chain.


Logistics Can Be Complex; Deal With It

Leaders in the logistics sector cite the ever-increasing complexity of the supply chain as the main challenge they encounter. This is true considering the changes that we often see in this sector. For instance, there was a time when distribution was local from local producers or the delivery was done by rail or interstate highway. However, the requirements that logistics operations and operators face today are much more complex than ever. Furthermore, the expectations from the customers have evolved significantly. In a more globalized supply chain that we have today and trade routes keep advancing, the logistics and supply chain companies have no option but to change their tactics. Here is what modern supply chain companies, managers, and logistics firms need to do to cope with the ever-increasing complexity in their respective industries. 


Things Are Changing in Your Supply Chain

Over the past year, the coronavirus pandemic has ravaged the world and adversely impacted almost every industry and economy in general. While there have been many challenges that came with the pandemic, there is a brighter side. The good thing is that the pandemic brought changes that will be helpful to businesses and different industries for years to come. One industry that has seen significant, pandemic-driven changes in the supply chain sector.


Chip Shortage Crippling the Auto Industry Could Last Until 2022

If you’re saving up to buy a Tesla – you may have to wait a bit longer. Elon Musk, founder and CEO of the electric vehicle brand; declared that prices of certain models were increasing due to a supply chain disruption that’s currently affecting the auto industry.


Congested Supply Chains Can Impact Traffic

No one likes getting held up in traffic, but for supply chain companies, traffic jams have a bigger consequence than in any other sector. It not only affects your timelines but can also affect your business in its entirety and might even end up leading to massive losses. According to a survey done by The Associated General Contractors of America, 93 percent of companies that took part in the study reported that traffic and congestion have a significant impact on their operations. Further studies indicate that most populated areas suffer from traffic congestion and its impact than other areas.


Is Your Supply Chain as Vulnerable as the Gas Pipeline?

The recent ransomware attack on the Colonial Pipeline in the US on May 7, 2021, shows the challenges that a supply chain can encounter if it lacks adequate cyber defenses and strategies. Though it belongs to a private firm, this pipeline supplies almost half of the US East Coast with liquid fuel. However, the recent attack that led to the cutting of the supply of this critical commodity shows that a lack of a cyber strategy can jeopardize your operations and impact your income.


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