Three key ways to tackle the supply chain in 2020

By Sean Galea-Pace
With 2020 now underway, Thomas Net has revealed several ways the new year can be tackled successfully in the supply chain space. Supply Chain Digital ta...

With 2020 now underway, Thomas Net has revealed several ways the new year can be tackled successfully in the supply chain space. Supply Chain Digital takes a closer look.

  1. Risk Management

Risk management is considered the primary concern of all CEOs and CPOs of companies. Supply chain managers must guard against cyberattacks and ensure that their cybersecurity approach is working correctly. The risk can be mitigated in ways such as: improving supply chain visibility, conducting a supply chain audit, managing the risk of raw material price volatility with financial hedges and improving supplier scorecards to ensure they are appropriate for individual suppliers rather than using a one-size-fits-all approach.

SEE ALSO:

  1. Responsible Sourcing

A green approach is becoming increasingly important to companies’ strategies. With all organisations operating with a firm Corporate Social Responsibility (CSR) approach in place, sourcing ethically is considered a key component to success. Sustainability revolves around several important areas such as human rights being respected, wages are paid fairly, factories are safe and the environment is impacted as little as possible.

  1. Supply Chain Transparency

Customers want clarity. It is expected that traceability will continue to become more prevalent and could reach the point where customers will be able to scan a product’s barcode at the point of sale and access data about its entire journey through the supply chain.

Interested in finding out more? Click here!

For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.

Follow us on LinkedIn and Twitter.

Share

Featured Articles

Shortlist Announced – The Global P&SC Awards 2024

Procurement Magazine and Supply Chain Digital have released the 2024 shortlist for the inaugural Global Procurement & Supply Chain Awards

Suzano: Pioneering High-Capacity Electric Trucks

Suzano, the world’s largest producer of market pulp, is testing the first high-capacity electric truck, the Atlas, developed by VIX Logística

Etihad Cargo’s Bold Bid to Increase Global Capacity

Etihad Cargo, the cargo and logistics arm of Etihad Airways, is expanding in a bid to offer comprehensive air cargo solutions to its customers

CGI: AI Already a Key Area of Focus for Supply Chain Leaders

Digital Supply Chain

Three Months Until Procurement & Supply Chain LIVE London

Digital Supply Chain

Procurement & Supply Chain LIVE Announces Chicago Event 2025

Digital Supply Chain