Supply Chain Disruptions Persist: Digital Transformation Key to Resilience
The lingering effects of the global Coronavirus pandemic have led to persistent shortages of cold and flu medication. Meanwhile, forward-thinking CEOs are leveraging supply chain management to gain a competitive edge. However, supply chains remain vulnerable, as highlighted by the pandemic and ongoing disruptions.
The term 'Supply Chain Management' was first coined in 1982, marking the beginning of the author's career in this field. Today, the future of supply chain lies in digital transformation, led by digital leaders. This shift is crucial as supply chains continue to face disruptions, even as 2022 draws to a close.
The pandemic brought supply chain to the forefront, revealing its importance and fragility. Semiconductor fabrication, a single point of failure, exemplifies this, with the world heavily reliant on a single country for most computer chips. Cash cycle management, too, relies heavily on supply chain leadership, with supply chain playing a pivotal role in cash flow.
To navigate these challenges, the 'Supply Chain Detective' concept comes into play. This involves problem-solving, metrics optimization, and process improvement in supply chain work. Smart CEOs are already leveraging supply chain to create better results and gain a competitive advantage.
As the pandemic's effects linger, so do supply chain disruptions. The future of supply chain is digital, and powering this future requires digital transformation leadership. By embracing this shift and learning from the pandemic, businesses can strengthen their supply chains, making them more robust and resilient.
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