OPINION: In the future, expect companies to rely more on suppliers in nearby low-cost countries and to explore shorter and more flexible transportation options.
“Supply chain” seems to be a stock answer to everything that’s wrong with the world these days. That’s because supply chain is shorthand for how the world is connected — from idea to product to consumer.Human psychology, along with all those systems we designed, recognizes meaningful alerts when they’re persistent and personal.Move from cost-optimized supply chains to regional networks Getting goods from Asia is tough these days.
In the future, expect companies to rely more on suppliers in nearby low-cost countries and to explore shorter and more flexible transportation options as they seek to reduce both risks and costs. Moving from low-cost suppliers to regional partner networks has another benefit: it’s environmentally friendly. Yale Climate Connections reported in August that international shipping is responsible for 3% of global greenhouse gasses – that’s more than airplanes. Moves to regional supply networks let companies switch between trucks, rail and shorter on-water transport.
Our integrated, cost-optimized supply chains worked so well that management of these business-critical activities could be two levels down from the CEO, and well out of sight of the boardroom. As options for sensor, camera and IoT data become increasingly available, supply chain’s integrative information about a business rises above management’s functional key performance indicators .
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