November 28, 2022 | Supply Chain Software
Amid growing uncertainty, it is vital for businesses to work proactively, maintain optimum inventory and stay prepared for disruption.
One of the first tasks in this proactive approach is to accurately predict demand. And this can be done with the help of supply chain forecasting.
This article will give you an overview of what supply chain forecasting is, why it’s important, and the different types of forecasting.
Uncertainty clouds over the outlook for 2023. The concerns are many: disruptions, shortages, conflicts, inflation and the threat of recession. But supply chain and procurement leaders are getting used to it. They’ve been battling crises for three years now and, in 2023, they stand ready to lead through the next round of challenges.
November 22, 2022 | Supply Chain Strategy
Supply chain security is a risk management priority for companies.
After several high-profile supply chain attacks in the last two years, businesses are recognizing that risk goes beyond IT networks and cyberthreats.
November 17, 2022 | Supply Chain Software
Supply chain management is a composite activity with stakeholders and numerous pieces in motion, and each supply chain has unique pain points, differing by industry and business size.
These pain points are frequently caused by inefficiencies and unpredictability and show up due to inattention or poor processes, both of which impact supply chain optimization.
Some of the main supply chain pain points are as follows:
November 08, 2022 | Risk Management
As uncertainty continues to grow amid rising inflation, businesses must quickly adapt to a new normal.
And if there’s one thing that is likely to be constant in this new normal – it’s disruption.
The global pandemic—which disrupted activities across all spectrums of life—has highlighted major supply chain weaknesses, particularly those crucial for sectors like pharmaceuticals and medical supplies.
November 07, 2022 | Supply Chain Strategy
The last two years have seen a series of disruptions — pandemic, lockdowns, port congestions, labor shortages and sudden appearance of new variants.
If there is one lesson that businesses have learnt from these unforeseen events, it is the need to regularly monitor their supply chains. As a first step toward understanding their supply chain and identifying risks, businesses must engage in supply chain mapping.
November 01, 2022 | Supply Chain
The pharmaceutical supply chains, increasingly globalized and dependent on certain geographies, have faced several stress tests because of the COVID-19 pandemic and the Russia-Ukraine war.
Drug shortages and stockpiling, logistical bottlenecks and export restrictions by India and China have hit the supply of active pharmaceutical ingredients (APIs) and generics.
October 31, 2022 | Market Intelligence
More than two years after the pandemic first hit, there has been little respite for the corporate travel industry.
In fact, with many organizations adopting a hybrid work model and employees working remotely, there isn’t much need for corporates to travel and meet in person.
Instead, they are now meeting on virtual platforms and collaborating with the help of digital tools.
All this has eliminated the need to travel and defined a new normal for corporate travel.
October 27, 2022 | Supply Chain
Buyers of Halloween candy this year are in for more of a trick in order to hand out treats.
The latest inflation report from the U.S. Bureau of Labor Statistics showed a 13.1% increase in candy prices – the largest increase ever recorded by the Consumer Price Index (CPI).
Inflation in commodity prices is driving the increase.
Companies are dealing with a rising number of fulfillment constraints, such as labor and freight cost pressures as well as the 24/7 customer who uses a variety of channels for receiving services and purchasing and returning goods. However, these organizations are beset by older, monolithic fulfillment models that aren’t up to these challenges and can’t meet the needs of today’s customers.
