Infosys Portland’s Post

The findings from our ‘Reinventing Supply Chains 2030’ survey show that some companies have excelled in transforming their supply chains by leveraging exceptional capabilities and technologies. Continuous disruption is the new normal. Organisations must overhaul their entire value chain to stay competitive, focusing on adaptability, sustainability and cognition.

📈 Procurement Trends 2023: Navigating the Future 2023, the world of procurement is evolving faster than ever. Here are some key trends shaping the landscape: 1️⃣ Digital Transformation: The procurement process is going digital, from e-sourcing to AI-driven spend analytics. Embrace technology to streamline operations and make data-driven decisions. 2️⃣ Sustainability Matters: Sustainable sourcing is no longer a choice; it's an expectation. Consumers and stakeholders are demanding eco-friendly procurement practices. 3️⃣ Supplier Collaboration: Collaborative relationships with suppliers are becoming crucial. It's not just about cost but also innovation, quality, and risk management. 4️⃣ Supply Chain Resilience: Recent disruptions have highlighted the importance of supply chain resilience. Diversifying sources and having contingency plans are top priorities. 5️⃣ Ethical Procurement: Companies are increasingly focusing on ethical sourcing. Transparency and fair labor practices are non-negotiable. Stay ahead of these trends to drive success in procurement. What other trends are you noticing in your industry? Share your thoughts! 🌐💼 #ProcurementTrends #supplychain #digitaltransformation #sustainability #procurement

A new survey reveals a paradigm shift in C-suite perspective on supply chains. Discover why 2024 marks a turning point, with businesses leveraging technology, sustainability goals, and strategic investments to transform supply chains into a competitive edge. The pulse of industry insights awaits – read more in the article below.

Supply chain reinvention is progressively becoming more of a priority to CEO's of competitive companies across the globe. Historically, we've seen a focus on cost reduction instead of responsiveness, sustainability, and resilience. Now, arguably more than ever, is the time to invest in greater visibility and greater stability across your supply chain. #ryder #fulfillment #supplychain https://lnkd.in/eiJ3V-NX

How can you avoid risk and enable sustainability in your supply chain? All businesses seek to avoid risks that inevitably come their way. Building resilient and sustainable supply chains is emerging as an essential element in corporate risk-mitigation strategies. Getting there requires strategic planning, deploying data, fostering collaboration, investing in technology, and adopting a sustainability mindset. The steps provided in this blog from Supply Chain Brain will help put your organization on the path toward supply chain resiliency: https://lnkd.in/erFndZce #Procurement #SupplyChain #Sustainability

Supply chain trends 2024: The digital shake-up Trend #4: Transparency and visibility beyond Tier 1 and 2 The lack of visibility across the layered tiers of a supply chain has major implications for organizations across industries, particularly for meeting regulatory requirements, and for the identification and mitigation of supply chain risks. Breaking the barrier of visibility beyond Tier 1 allows organizations to look across their extended supply chain into partners, build greater and deeper insights into root causes, identify new risks that occur further into the supply chain and drive ESG goals through better traceability and transparency. Technology tools such as control towers and digital twins can surface critical sub-tier supplier relationships, highlight common sub-tier suppliers, factory locations and provide clear insight into the depth of an organization’s supply chain. When implemented at scale they can improve supply chain resilience. Key actions to take in 2024 include: Move towards a more collective and data-driven approach by using technology solutions and partnerships. Extend visibility of product flows to create more in-depth views of the supply chain ecosystem. Create cross-functional teams to provide a fuller picture of key use cases, the scope of visibility and surfacing downstream problems. Build on the visibility of others – with organizations each embarking on their own projects and control towers to build visibility, explore partnerships that may provide access to a wealth of data and insights. Embed ESG measures within the technology for improved procurement decision making and performance management, and incorporate ESG performance metrics into supplier evaluations or scorecards. #supplychain #supplychaintrends #supplychainsolutions #supplychaintransformation #supplychainlogistics

The past few years have reshaped the business landscape, and procurement is at the forefront of driving value creation across the supply chain. In a recent article by Mauro Erriquez, Theano Liakopoulou, Julian Schaefer, and Marc Sommerer, four megatrends are outlined, shaping the future of procurement in this new economic era. 🌍 Megatrends Reshaping Procurement: Multipolar World: Shift from cost improvement to resiliency in the face of global uncertainties. AI Dominance: Utilizing AI and machine learning for enhanced spend transparency and supply market insights. Demographic Shifts: Competing for digital talent and fostering skills needed for agile and digital operating models. Low-Carbon Transition: Leading efforts to reduce value chain emissions and secure green materials. 💡 New Currencies of Procurement: Introducing innovative approaches beyond cost savings, including: Market Outperformance: Offsetting market increases and capturing downward trends for improved net margins. Strategic Growth: Going beyond order fulfillment to secure critical materials and drive sustainable growth. Emissions Reduction: Leading in achieving net-zero objectives through green materials and supply chain decarbonization. 🌐 Procurement 2030 Vision: Challenges for Chief Procurement Officers (CPOs): End-to-End Value Entrepreneur: Shifting focus from savings to value creation and resilience. New Venues of Value Creation: Embracing volatility, optimizing Scope 3 emissions, and leveraging high-value analytics. Building the Future Organization: Reinventing internal structures for agility, digitization, and nurturing the "Buyer of the Future." 🚀 Seizing Opportunities in the New Era: Procurement's expanded role is an opportunity to reshape strategies and operations: Redesigning Upstream Value Chain: Shaping corporate strategy, M&A targets, and fostering innovation. End-to-End Margin Management: Joint collaboration for top-line strategies and dynamic pricing adjustment. Strategic Resilience: Transitioning from security of supply to robust diversification strategies. 👩💼 Talent Transformation: To thrive, procurement needs a new breed of professionals: Digitally Fluent Buyers: Merging traditional procurement skills with data analytics and sustainability expertise. Talent Attraction: Making procurement more attractive by emphasizing innovation and growth opportunities. 🌟 Bottom Line: As we navigate times of upheaval, the seismic shift also presents untapped opportunities. With visionary leadership, talent development, and a reinvented infrastructure, procurement can lead the charge in this new era of value creation. #Procurement #ValueCreation #FutureOfWork #AI #Innovation #Sustainability

In the evolving landscape of supply chain management, two pivotal trends are setting the stage for a sustainable and efficient future: no-touch/low-touch planning and Environmental, Social, and Governance (ESG) strategies. These innovative approaches are not just buzzwords but transformative practices reshaping how businesses operate, prioritize, and impact the world. 🌎✨   No-Touch/Low-Touch Planning: Leveraging advanced technologies like AI, machine learning, and automation, no-touch/low-touch planning minimizes human intervention in supply chain operations. This shift towards automation enhances accuracy, reduces operational costs, and significantly improves efficiency by streamlining processes from inventory management to order fulfillment. By adopting these systems, companies can anticipate market changes more swiftly and respond with agility, ensuring resilience in the face of disruptions. 🤖🔄   ESG Strategies: Integrating ESG principles into supply chain management goes beyond environmental stewardship. It encompasses ethical sourcing, social responsibility, and corporate governance, driving companies to reconsider their impact on the planet, people, and society at large. ESG-focused strategies ensure long-term sustainability by encouraging renewable energy use, reducing waste, and promoting fair labor practices. Companies embracing ESG are not only contributing to a healthier planet but are also seeing enhanced brand loyalty, investor confidence, and competitive advantage in the market. 🌱🤝 The synergy of no-touch/low-touch planning with ESG strategies represents a holistic approach to modern supply chain management. This combination promises not only operational excellence but also a commitment to ethical practices and sustainability. As businesses navigate the complexities of global supply chains, those who prioritize these innovative approaches will lead the way in building resilient, responsible, and efficient operations. 🚀🌟 The future of supply chain management is clear: embracing technology and sustainability is not optional but essential. As we move forward, let's champion these practices to create a more efficient, ethical, and sustainable global supply network. 🌍💼 #SupplyChainManagement #LogisticsManagement #NoTouchPlanning #ESGStrategies #Sustainability #Innovation #FutureOfWork

‘Glocalisation’ refers to how supply chains can learn to simultaneously balance the advantages of global and local business, improving their overall business and establishing more meaningful cross-sector partnerships in every facet of most industries. Indeed, as it’s clear that 2024 will continue to face global disruptive challenges, embracing a multi-layered strategy is one of the best ways to establish a robust and stable foundation for your supply chain moving forward. #SupplyChain #SupplyChainManagement

🌐 Building Resilient Supply Chains: A Blueprint for the Future! 🚀 In the face of unprecedented challenges, organizations are gearing up to fortify their supply chains for today and tomorrow. Here's a concise roadmap to foster resilience and sustainability in your supply chain: 📊 Leverage External Data for Market Insights - Utilize external data, including consumer price indexes, GDP trends, and climate change indicators, to sense market shifts. - Integrate forecasting models for a forward-looking supply chain design. ♻️ Integrate Sustainability into Design - Explicitly consider greenhouse gas emissions in supply chain design. - Balance decisions on cost, service, and inventory with a focus on risk and sustainability. 🔄 Discover and Address Capability Gaps - Identify vulnerabilities and inefficiencies in transportation or supplier capacity through comprehensive supply chain design. - Conduct sourcing events to bridge capability gaps. 🤝 Enable Data Sharing at Supplier Onboarding - Improve visibility by capturing diversity, sustainability, and risk factors during supplier onboarding. - Standardize and update data for effective supplier risk and performance management. 🔍 Monitor N-Tier Suppliers for Risks - Continuously monitor suppliers for single points of failure and changes in sentiment around sustainability, human exploitation, or diversity. - Treat suppliers as trusted partners for enhanced risk management and business continuity. 🚧 Adjust Supply Chain Design to Mitigate Risks - Initiate remedial actions as supplier risks increase. - Run scenarios to assess redirecting orders to alternate suppliers, considering financial implications. 💼 Earn Preferred Customer Status - In a supply-constrained world, shift from a preferred supplier to a preferred customer. - Build trust through timely payments and early visibility to orders, aligning finance with procurement. 🌍 Impact #ESG at Decision Points - Actively integrate ESG considerations in decision-making processes, starting from the sourcing process. - Optimize transportation routes with carbon footprint considerations. 🤝 Make Collaboration Ingrained in Business - Cultivate resilience and sustainability as a team effort at every organizational level. - Establish these qualities in the C-suite to drive prioritized investments. 🚀 Navigating the Future Together! Despite uncertainties, leaders embracing disruption and uniting supply chain, procurement, and finance can uncover exciting opportunities. Adopt a data-driven approach to determine risk exposure, evaluate substitutions, enhance resilience, and make smarter decisions. Connect every fiber in the supply chain needle into a single, common strand for success. 💪🌐 #ResilientSupplyChain #SustainabilityJourney #InnovationForTomorrow