News for Supply Chain Enterprises
The US is recuperating from Hurricane Mathews that led to shutting down of roads and ports which form an essential part of supply chain business day-to-day activities. Blockage of roads has led to stalling of transportation of goods into the affected areas, and getting commodities to remote locations is proving a challenge in the coming days before full recovery takes place.
A major Korean shipping company has been in the spotlight in the last couple of days owing to its recent declaration of bankruptcy. The announcement has led to eruption of battles over the millions accumulated in added supply chain costs. The tussle is also in the form of goods caught up in the bankruptcy saga. Many companies are coming out with similar demands of their products, leading to the intensifying of the battle for compensation.
Analysts in the supply chain field have placed emphasis on organizations to embrace and invest in climate finance, taking into consideration the ever-changing environment in and how it would affect the supply chain business. Experts advise on enterprises embracing the transition to inexhaustible energy and find more transformational ways of ensuring resilient supply chains.
Some trends are emerging in the supply chain operations:
There is collaboration of company entities in areas such as marketing, taking orders, and making payments. The collaboration is contributing to an effectiveness and efficiency of companies over time.
Companies are also adopting the digital approach in supply chain, leading to digitization of the main company departments, thus making collaboration easier and better. It also allows the business to create networks in better-organized ways.