Dubbed ‘The Risk & Resilience Conference’ the two-day hybrid event featured keynotes, roundtables, Q&As, and networking opportunities with inspirational and knowledgeable leaders in the procurement and supply chain space.
Private trading network new model of supply chain - UST
Jonathan Colehower is Global Supply Chain Strategy Practice Lead at UST, the digital transformation solutions provider. Colehower spoke about the rise of "private trading networks" as a modern supply chain model.
He said: "The private trading network is essentially taking the model that we've had for decades, what I call a one up, one down model, where I as an actor in the supply chain, I know one layer up and one layer down. I have visibility to probably my supplier and I have visibility to my customer. If I have a multi-echelon supply chain, suppose it's six levels deep, I don't have any visibility except for the one up, one down.
"What we're doing is we're putting together a many-to-many trading network that is permission-based, so I can turn on and turn off visibility depending on who those actors are, because you don't want every supply chain actor to see what everybody else is doing, you want to be able to manage or restrict that visibility.
"One of the biggest challenges for such a network will be trust. Whether trading partners really trust one another enough to be able to share that information. I don't think that's going to be solved immediately. I think it's going to take a pioneer. It's going to take somebody who's comfortable and confident in that supply chain that they will be willing to share, and they can actually demonstrate what the results are."
To watch this keynote - or any of our other speakers from Procurement & Supply Chain LIVE: The Risk and Resilience Conference - click here.
PROCUREMENT & SUPPLY CHAIN LIVE 2022
Held at the QEII Centre from 12-13 October, BMG’s all-new hybrid event incorporates two zones - SupplyChain LIVE and Procurement LIVE - to create a single EXPO style experience.
The event will give those attending the chance to showcase their values, products and services to partners and customers.
To find out more about PROCUREMENT & SUPPLY CHAIN LIVE LONDON 2022, click here.