How incremental automation adds resilience to supply chain
Media firm to reward resilient brands at summit
In recognition of businesses’ resilience and excellence despite the harsh operating business environment in the country, Awesome Brands Magazine, in conjunction with some strategic partners, has concluded plans to reward firms at this year’s awards.
According to the firm, while the government is fixing the power sector, security challenges, foreign exchange issues, infrastructure issues, institutional bottlenecks, corruption, Nigerian entrepreneurs have moved on and excelled in different sectors of the economy…
How incremental automation adds resilience to supply chain
“Our research suggests that the more aggressively companies respond to the digitization of their industries—up to and including initiating digital disruption—the better the effect on their projected revenue and profit growth,” wrote McKinsey partners Jacques Bughin, Laura LaBerge, and Anette Mellbye in “The case for digital reinvention.” (Photo: Shutterstock)
Globalized supply chains are long and complex, with many partners: supply chains evolved this way to reduce cost and optimize inventories and transit times, but complexity brings enhanced risks. These risks come from weather, geopolitics, infrastructure bottlenecks, supply and demand imbalances, and regulatory changes. In response to these risks, companies with exposure to supply chain shocks are automating workflows and creating artificially intelligent assistants to help human workers make better decisions faster and stay focused on strategy.
In the past year, two major regulatory changes caused severe disruptions to North American supply chains. In the run-up to the electronic logging device mandate on December 18, 2017, shippers and carriers scrambled to move freight because of the unpredictability of post-ELD freight markets. By mid-November, 28% of all loads tendered by shippers were being rejected by trucking carriers due to a lack of capacity or spot market volatility. This summer and fall saw a similar situation play out on the dense…
featuered images
Recent Comments