Towards Future-Proof Supply Chains

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By Rachna Dayal

The pandemic has come and gone. However, it started some systemic shifts that will continue to impact our personal and professional lives for decades. One such shift is the renewed focus on supply chain. There is very little doubt that our approach to data and supply chain is evolving. This change is essential across private organizations, regulations/policy making, international trade agreements, individuals as consumers of services, and ultimately supply chains. The most immediate need is that of adjusting to the post pandemic world and ensuring that supply chains are resilient, predictive, and agile to deal with periodic supply disruptions caused by new variant surges and other viral threats, geopolitical tensions like war, manufacturing nationalism, etc.

Our VUCA (Volatile, Unpredictable, Complex & Ambiguous) world demands Agile supply chains that can pivot to meet constantly changing needs. This requires a deeper strategic look at topics like global vs local manufacturing, business continuity planning and flexible manufacturing. Along with it, organizations must be very cognizant of the impact of operations on our planet and sustainable supply chains should not just be a fireside chat with leaders but a way of working. Some key aspects of sustainable supply chains include circular economy, carbon neutrality as well as innovation for alternate/substitutes for critical and endangered resources.

Future-proofing our supply chains will require a lot of strategic thinking and scenario planning that includes a lot of data points for simulation of future pandemics, political and demographic shifts. These scenarios can then drive development of solutions that target fault lines exposed through the analysis.

TiECON 2023 Supply Chain track focuses on some of these critical topics and the solutions to resolve them. Come and be part of the dialogue and be inspired!