Scott Koegler

Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

Find his portfolio here and his personal bio here

Strategic Paths to Supply Chain Growth

It is no longer a secret that supply chains have evolved into a more complex industry that ever. This can be seen in the changes that have occurred in the socio-economic and market dynamics, all of which are aimed at enabling organizations to respond to changing customer needs and outside-in demand-driven environment. Companies must now consider a host of new variables, such as the increasing protectionism and geopolitics. These factors are forcing most of the global supply chain players to re-examine the business continuity plans and risks and embrace new strategies in their sourcing approaches that will guarantee them growth. A strategic supply chain planning that factors in aspects of formulation of business strategy as well as the tactical aspects makes a supply chain firm more valuable. Here are some supply chain strategies that are designed to help supply chain companies grow amid the current competitive business environment.

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Supply Chain Revolution is Coming

The supply chain has evolved significantly over the past few years. However, the current developments caused by the coronavirus pandemic have made the changes even faster than it had been anticipated. The COVID-19 pandemic has altered many things starting from product suppliers, strategies all the way to supply routes. According to a study by Ocean Insights, coronavirus pandemic could result in greater collaboration and technological innovations across this industry than ever before. According to the study, 42% of the shipping and freight professionals are likely to change their supply chain strategies. Of these professionals, 67% see investment in technology as an area that will substantially alter their operations after the pandemic.

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Supply Chain Requires Attention Now

No matter the industry or company that you work in, be it an expanding corporation or a small enterprise, the fortunes and success in operations are linked in one way or another to the performance of the supply chain. Therefore, if you want success in your business, you have to ensure the supply chain works effectively. With COVID-19 now ravaging many industries and dealing the biggest ever blow to movement of goods and services, the supply chain requires attention now more than ever.

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