The COVID-19 pandemic has led to a surge in the required virtual supply chain work across companies. Aside from the pandemic, teams workingvirtually is a macro trend that newer generations making up a growing portion of the workforce expect. Looking ahead, if supply chain leaders want to attract and retain the best and brightest talent, they will need to facilitate work in new and different ways.
2020 has been quite a year for global businesses and especially for supply chains.
Just in the first six months of the year, the world has already witnessed some defining moments. Looming trade wars between the U.S. and China, preparations for the post-Brexit economy in the Euro zone, and an increasing focus on sustainability and environmental consciousness are all ongoing.
Though one can argue that none of these moments took the world by surprise, they did push global supply chains to review and re-engineer their operating models.
A Wall Street Journal article recently posed an interesting question: “Is the world likely to become less flat because of the pandemic?” According to the article, while globalization was the growing trend in the early part of the new century, key drivers such as rising offshore costs, localization and a shift toward services delivery has begun to take some steam out of it.
The phrase “last-mile logistics” refers to the process of moving products from the last transit stop to the final destination, which may be anywhere from one to one thousand miles. Last-mile logistics does not involve transporting goods from a single route to a single destination like port-to-port or terminal-to-terminal logistics. Instead, it involves road transportation primarily to complete the final delivery stage. It is also one of the biggest logistics challenges that businesses face.
If you’re looking for a job in supply chain, you might be seeking advice on having a good job search strategy. Look no further than this article, which outlines the top seven tips to help you with your supply chain job search strategy.
The entire world is watching aghast as our nation continues to struggle with its COVID-19 response, where our broken supply chain cannot supply medical workers with enough masks and face shields to keep them reasonably healthy. The pandemic has exposed inadequacies and vulnerabilities in supply chains that were supposed to provide the much-needed supplies in the healthcare system. But life-threatening shortages are reported daily. COVID-19 testing kits and nasal swabs, lab processing chemicals, hand sanitizer and ventilators are in desperately short supply.
The worldwide crisis made us hyper-aware that trust-worthy relationships are vital. Effective third-party risk management is the best way to gain assurance that responses and decisions are risk-informed. Managing third-party relationships, calibrated for criticality and risks, has never been more critical. This is the most reliable path to strengthen business resilience, protect stakeholders and the bottom line.
The Coronavirus (COVID-19) pandemic and 2020 recession are creating new stresses and disruptions in the global supply chain that are now presenting themselves. In today‘s hyperconnected economies, the response to supply chain risk has primarily been “reactive”.
It must be an amazing feeling to get your online order delivered the next day or on the very same day itself. You would not only feel special but would also develop trust and reliability for the respective company. Nevertheless, the scenario used to be quite different. But, in the last few years, high-end innovation in technology has boosted the logistics industry in more than one way, while driving the e-commerce industry with the same spur.
As the world gets to grips with a world health and humanitarian emergency resulting from the spread of coronavirus (COVID19), the knock-on economic effects also take effect. In an increasingly global economy, we are starting to see how fragile some just-in-time supply chains have become.