Importance of Leveraging New Supply Chain Technologies
According to WTO, global merchandise trade in 2020 fell by 13% to 32% due to the Covid-19 crisis and disruptions. The biggest impact was on North American and Asian economies, and much of it can be put down to the massive global disruption of long-established supply chains . Existing supply chains were always susceptible to disruptions and had in the past, floundered in the face of geopolitical changes and natural disasters. However, Covid-19 exposed their inherent weaknesses to a deeper level and in a more sustained manner. The resulting loss of revenue, customer churn, and diminished market value have forced organizations across the globe to rethink their existing supply chain models. This has created a pressing need for organizations to adopt next-gen supply chain technologies to ensure business continuity in the face of global disruptive events. Organizations are increasingly focusing on rebuilding their supply chains to be more robust and resilient versions of their past stru...