A recent report highlights significant challenges in supply chain visibility and sustainability, with CEOs recognising the urgent need for technological solutions.
Supply chains, a crucial component of global commerce, have operated historically with limited transparency and clear visibility into their workings. Recent findings from the Proxima Supply Chain Barometer highlight that even in an increasingly connected world, challenges related to supply chain visibility and sustainability remain prominent. The report reveals that a staggering 86 per cent of chief executives identify significant obstacles in achieving supply chain resiliency.
Published in September and based on a survey of 3,000 CEOs from the UK, the US, DACH, and Benelux regions, the Proxima research indicates a marked shift in focus among business leaders. The urgency surrounding supply chain issues has prompted 55 per cent of CEOs to commit more time to these matters over the next year. In addition, a considerable 99 per cent of those surveyed acknowledge barriers hindering supply chain carbonisation, reinforcing the need for innovative solutions.
Amidst these challenges, advancements in technology, particularly in artificial intelligence (AI) and the internet of things (IoT), are paving the way for enhanced visibility and operational efficiency within supply chains. The adoption of smart technologies promises to shine light on previously obscured sections of the supply chain, enabling both sustainability and improved performance.
Steve Statler, chief marketing officer at Wiliot, an ambient IoT company, articulated the potential benefits of these technological advancements. “We’ve been running supply chains largely in the dark,” Statler said, adding, “The opportunity now is to see everything everywhere all at once – like getting the cheat code in a computer game where suddenly the entire battlefield map is illuminated.” This metaphor underscores the transformative potential of real-time visibility and monitoring for supply chain operations.
Royal Mail is among the early adopters of these innovations, implementing Wiliot’s Bluetooth readers across 6,500 of its vehicles to effectively track 850,000 rolling cages used for transporting parcels nationwide. By deploying 2.5 million battery-free Bluetooth tags, the postal service gains the ability to optimise truck size, coordinate labour effectively, and reduce asset losses. This initiative not only enhances operational efficiency but also prepares the groundwork for real-time parcel tracking that incorporates monitoring of temperature and carbon emissions. Such capabilities are particularly valuable for managing temperature-sensitive goods, such as medicines and food, making it possible to offer delivery services without the need for refrigerated transport.
By employing these advanced technologies, companies are moving towards a future where supply chain operations are not only more efficient but also align more closely with sustainability goals, addressing both market demands and regulatory pressures. The advancements elucidate a clear trajectory for the evolution of supply chain practices as businesses adapt to the changing landscape shaped by technological progress.
Source: Noah Wire Services
- https://proximagroup.com/reports-and-research/supply-chain-barometer-2023/ – Corroborates the findings from the Proxima Supply Chain Barometer, including challenges related to supply chain visibility and sustainability.
- https://proximagroup.com/proxima-perspectives/the-2023-supply-chain-barometer-reveals-a-complex-landscape/ – Provides additional details on the Proxima Supply Chain Barometer, highlighting the complex landscape and challenges faced by CEOs.
- https://procurementmag.com/articles/maximising-visibility-the-path-to-sustainable-supply-chains – Supports the importance of supply chain visibility for sustainability, efficiency, and compliance with environmental standards.
- https://procurementmag.com/articles/maximising-visibility-the-path-to-sustainable-supply-chains – Discusses the role of advanced technologies like IoT and AI in enhancing supply chain visibility and operational efficiency.
- https://greenly.earth/en-us/blog/ecology-news/why-does-supply-chain-visibility-matter-for-sustainability – Explains why supply chain visibility is crucial for sustainability, including the monitoring of scope 3 emissions and environmental impact.
- https://greenly.earth/en-us/blog/ecology-news/why-does-supply-chain-visibility-matter-for-sustainability – Highlights the challenges associated with improving supply chain visibility, such as deforestation, air pollution, and EHS health and safety issues.
- https://procurementmag.com/articles/maximising-visibility-the-path-to-sustainable-supply-chains – Details the importance of real-time data and monitoring in supply chain management for sustainability and efficiency.
- https://procurementmag.com/articles/maximising-visibility-the-path-to-sustainable-supply-chains – Mentions the need for robust monitoring and control tower platforms for real-time tracking and addressing exceptions promptly in supply chains.
- https://greenly.earth/en-us/blog/ecology-news/why-does-supply-chain-visibility-matter-for-sustainability – Emphasizes the ultimate goal of supply chain visibility in reducing business risks, improving knowledge and data, and enhancing eco-friendliness.
- https://procurementmag.com/articles/maximising-visibility-the-path-to-sustainable-supply-chains – Discusses how advanced technologies help businesses navigate complex regulatory environments and support efficient manufacturing while avoiding waste.
