Description
Multiple shifts in the world of supply chain, transportation, and logistics pose challenges to the leaders of supply chain in the private and public sectors. By utilizing the latest technological solutions together with other physical and digital assets to redesign logistics practices, supply chains can adjust better to the fast-paced, highly competitive, omnichannel business environment. The increasing outsourcing practices, offshoring, product versatility, supply chain security, and substantial interdependence throughout the supply chain further accentuate the importance of dealing with risks, resiliency, sustainability in the supply chain. Modern logistics practices focus on the circular supply chain concept, involving previously used products as raw materials. This “reverse logistics” can improve sustainability and resiliency when managed well and the potential to be a cash and resource-consuming quagmire when managed poorly.
How well are global supply chains able to withstand disruptive events?
Digitization of the supply chain featured prominently in the ongoing automation of Industry 4.0 improves the speed, dynamics, and resiliency of the supply chain operations, leading to an improved ability to respond to customer demands and ultimately higher delivered value. By embracing digitalization, organizations can drive up resiliency and sustainability efforts and reduce operating costs of the supply chain.
Learning Objectives:
- Understand how organizational responses to global disruptive events have introduced new methodology and approaches to anticipate and react to future interruptions in the global supply chain.
- Study how organizations create a supply chain that can provide goods and services while maintaining and improving sustainability goals and objectives.
- Appreciate how to design supply chains that can cope with the policy environment's fluid nature and how policy changes offer new constraints and new opportunities.
- Learn how new potential global alliances and trade agreements can provide increased opportunities for supply chain resiliency and mitigating risks.
- Study how the integrated, automated, and digital "Smart Factory" of Industry 4.0 can help organizations respond and recover from global changes more effectively.
- Know how increased cybersecurity breaches the global supply chain and the increased digital interconnectedness has led to increased risk of cyber threats and outcomes.