In today’s globalized economy, a robust supply chain is crucial for businesses to succeed, encompasses all the activities that are involved in producing and delivering a product or service to the end customer. It includes everything from sourcing raw materials to manufacturing, packaging, and distribution. It can help businesses weather disruptions and uncertainties and continue to meet customer demand.
A robust supply chain is vital for any business to operate smoothly and meet customer demands. It enables companies to efficiently manage inventory, reduce disruptions, and adapt to market changes. A strong supply chain also helps businesses to remain competitive, enhance customer satisfaction, and improve their overall bottom line. Investing in a robust supply chain is a wise decision for any business seeking sustainable growth.
Disruptions and Creating Robust Supply Chains
Disruptions can have a significant impact on industries, leading to supply chain disruptions, increased costs, and reduced productivity. The pandemic has shown that disruptions can strike at any time and can affect entire industries. Companies with a robust supply chain are better prepared to navigate these disruptions, manage risks, and adapt to changing market conditions. In short, disruptions are a risk that industries must be prepared for, and a robust supply chain is crucial to ensure business continuity.
A resilient supply chain is one that can withstand disruptions and quickly adapt to changes in the environment. There are several characteristics of a resilient supply chain, including:
Latest Trends in Supply Chain Management
Several latest trends in supply chain management are helping businesses build resilience in their supply chains.
India Inc. Increasingly Becoming Resilient
Leading Indian companies have created supply chain resilience by diversifying their customer base and establishing delivery canters in different countries. Additionally, many manufacturing companies have invested in technology solutions like blockchain and IoT, as well as strategic partnerships with suppliers, to improve supply chain visibility and ensure timely delivery of raw materials. As a result, these companies have been able to maintain business continuity during the COVID-19 pandemic and other uncertainties, serving as an example for smaller businesses and other industries.
CII Institute of Logistics and Supply Chain
To address the growing need of sharpening India Inc’s competitive edge through better Logistics and Supply Chain practices, CII Institute of Logistics (CIL) was established in 2004 by the CII as a Center of Excellence in Logistics and Supply Chain.
The platform is for the Industry to gain more insights into the emerging trends, industry specific problems of national importance and global best practices in logistics & supply chain management. We enable the industry to cut down the transaction cost, increase efficiency, and enhance profitability and enable to sensitize and bring solutions to macro level issues.
Know more,visit: https://www.ciilogistics.com/