Written by 15:24 Tech News Views: [tptn_views]

5 compelling reasons to check the pulse of your supply chain

Experience teaches us plenty, but only if we’re open to learning from it. The planet’s supply chains have been put through the wringer in recent events, pointing to their vulnerabilities and the need for resilience. Massive geopolitical challenges of varied dimensions ranging from the Covid-19 pandemic to Iran-backed Houthi attacks on cargo ships in the Red Sea have sent ripples through global commerce. These realities coupled with an urgency to make supply chains more cost efficient and greener, give rise to an exciting opportunity for investors to make a difference.

1. Unforeseeable risks spell peril for unprepared supply chains

As the world battles unconventional challenges, robust and adaptable supply chains are not a luxury, but a necessity. The pandemic and the Houthi attacks demonstrate that threats can emerge from the most unexpected quarters. It’s no longer about ‘if’ but ‘when’. Stress-testing for such circumstances and building in contingency measures is essential.

2. Resilience is the order of the day

The global trade ecosystems have proven themselves vulnerable to these unpredictable threats. Moving forward, resilience is the key ingredient for supply chain management. Companies that invest in resilient supply chains will not only secure their business continuity, but also gain a competitive advantage.

3. Sustainability is the new normal

With public sentiment strongly veering towards protecting our environment, supply chains are under intense scrutiny. The demand for leaner and greener supply chains is on the rise. Companies seeking to stay relevant and profitable in the present and future must embrace sustainable business practices.

4. Innovation and technology are catalysts for change

Surviving in this rapidly changing scenario requires strategic innovation. Technology is instrumental in enhancing the resilience and sustainability of supply chains. Investors, therefore, need to prioritize companies that are committed to adopting and advancing technological solutions.

5. Opportunity knocks for foresighted investors

The silver lining amidst all the disruption is the emergence of an enticing investment landscape. Quietly, but surely, discerning investors are identifying and seizing opportunities related to resilient, green, and tech-driven supply chains. By doing so, they not only stand to reap handsome returns, but also have the chance to shape the future of global commerce.

So, now more than ever, it is imperative for businesses and investors alike to grasp the immense relevance and potential of resilient and sustainable supply chains. It’s not just about surviving the storm, but also preparing for the next one while leaving a positive footprint on the planet.

Credit: BBC. TechCrunch, Reuters