As the Covid pandemic continues to lay bare underlying weaknesses in supply networks, companies are increasingly prioritising their efforts to develop more resilient and sustainable supply chains.
A paper published by the World Economic Forum, in collaboration with Bain & Company, finds that whilst full visibility and traceability across the supply chain are central to achieving these goals, up to 60% of executives have no visibility into items beyond their tier 1 suppliers (according to a Bain & Co. survey).
The paper entitled ‘Visibility and Traceability – The Twin Engines of Sustainable Supply Chains’ reports that although emerging technologies (such as A.I., Internet of Things and Blockchain) are enabling a higher level of visibility and traceability, through real-time analytics and predictive problem identification for example, companies are still facing significant data, technical and organisational barriers.
It finds that companies and other stakeholders will increasingly need to work together at a cross-sector level to develop new collaborative platforms to tackle these barriers. The paper outlines some of the key elements to this collaborative effort required to realise the opportunities created by full end-to-end supply chain visibility and traceability.
Click here to read more and download the full paper: