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.

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.

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.

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.