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Supply Chain Revolution is Coming

The supply chain has evolved significantly over the past few years. However, the current developments caused by the coronavirus pandemic have made the changes even faster than it had been anticipated. The COVID-19 pandemic has altered many things starting from product suppliers, strategies all the way to supply routes. According to a study by Ocean Insights, coronavirus pandemic could result in greater collaboration and technological innovations across this industry than ever before. According to the study, 42% of the shipping and freight professionals are likely to change their supply chain strategies. Of these professionals, 67% see investment in technology as an area that will substantially alter their operations after the pandemic.

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Supply Chain Requires Attention Now

No matter the industry or company that you work in, be it an expanding corporation or a small enterprise, the fortunes and success in operations are linked in one way or another to the performance of the supply chain. Therefore, if you want success in your business, you have to ensure the supply chain works effectively. With COVID-19 now ravaging many industries and dealing the biggest ever blow to movement of goods and services, the supply chain requires attention now more than ever.

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Businesses Brace for as Much as Six Months Disruption

Companies around the world are now bracing themselves for massive disruptions expected from the effects of the ongoing coronavirus (COVID-19) outbreak. This is according to a recent study carried out by CNBC Global CFO Council. The report states that things will not return to normal at least for three to six months. The study found that the pandemic has had a far-reaching effect on the supply chain leading to adverse impacts on overall business operations. Other areas that have been extremely affected apart from the supply chain are IT resources, strategic planning, and human resources, most of whom have lost a lot to the disease.

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Supply Chain is Circular - What Does that Mean?

The supply chain is one of the industries that the world cannot live without considering the critical role it plays in ensuring humans get their needs regardless of where they come from or where they are. As growth continues being felt in the supply chain, various innovations continue coming in to improve service provision and reduce the misuse of resources. One of the latest attempts is to make supply chain circular. But what is a circular supply chain? According to Gartner, a circular economy is an economy that encourages reuse as a way of ensuring economic growth. As natural resources continue dwindling, recycling is one of the widely championed initiatives expected to ensure minimum waste of resources. So, circular supply chain is where recycling and reuse of scrapped products is advocated.

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Tiny Tags Make the Supply Chain Safer and More Trackable

Companies have in the past lost billions of dollars to counterfeiting, and the trend remains the same even with technologies that promise to solve this problem year in year out. According to a 2018 report by the Organization for Economic Cooperation and Development, approximately 2 trillion dollars worth of counterfeit goods will be sold globally this year. To many manufacturers, governments, and consumers, this spells doom because they will have to deal with counterfeiting and products, most of that they do not know where they originate from. 

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Shorten the Supply Chain for Repair Parts by Using 3D Printers

3D printing technology has been in use in prototyping for years, but it is now making way into production process as well. Since supply chain management is a constant act of juggling that entails trying to balance the overall inventory and its availability and the changing demands, it is always hard to manage it without some form of innovation or help. However, if you think that this is difficult, wait until you encounter the challenge of managing spare parts. It is hard to anticipate when breakdowns will occur and when new spare parts will be needed.

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Here's How the Supply Chain Will Change This Year

The majority of the key trends in the supply chain for 2020 will be a continuation of what took place in 2019 and the years before. The industry continues to undergo significant levels of change whose intentions are to increase productivity, quality and efficiency of service. More is on the way taking into account digital transformation that is revolutionizing everything. This industry has become a backbone of many other sectors that see it as critical in realizing their goals. It is fast becoming a leading source of competitive advantage to many companies in the modern digital economy.  2020 will be another defining year for the supply chain industry and these are the predictions of what you should expect.

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Supply Chain Virtual Summit Recap

On February 6, Infor opened the doors to their Supply Chain Virtual Summit where Supply Chain experts spoke about current issues and trends in the industry. While completely online – the summit offered the same advantages of attending a live conference without ever having to leave your office.

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Look at these Trends That Are Shaping the Supply Chain in 2020

The past decade was a defining time for the global logistics industry that saw the sector grow tremendously. It is the decade that saw the introduction of various aspects that made the industry improve while also introducing different challenges that were never seen before. Advancements in technology strengthened the capabilities and operations in logistics such as packaging, labeling, and shipping while also introducing challenges such as loss of job and security concerns. As we begin a new year, these are the trends that will shape the supply chain industry going forward.

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Upcoming Virtual Supply Chain Summit Invitation

New year – but the same problems are plaguing the supply chain industries world-wide. Supply chain companies are under increased pressure to decrease delivery time without raising the cost of shipping. To add to that - organizations are scrambling to come up with solutions that will not only grow their business but retain qualified employees.

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