In the age of globalization and digitalization, supply chains are becoming increasingly complex and interconnected. Transparency and resilience in the supply chain are in demand. Here you’ll find how to get there.

1. Data-driven decision making

Data is a powerful tool for driving transparent supply chains. Companies can collect and analyze data from multiple sources to gain deep insights into their supply chains. This can help identify weaknesses, improve performance and make informed decisions. It is therefore important that companies invest in technologies such as Artificial Intelligence (AI), Machine Learning and Big Data Analytics to harness the full potential of their data. Networking with customers, both in surveys and in-person, also contributes to transparency.

2. Establishment of robust risk management strategies

To promote supply chain resilience, companies should establish robust risk management strategies. This could include identifying risk factors, developing contingency plans and implementing mitigation measures. Companies should also conduct regular risk assessments to adapt their strategies to changing conditions.

3. Cooperation with suppliers

Working closely with suppliers is key to driving supply chain visibility and resilience. Companies should work with their suppliers to gain insights into their operations and identify potential risks. In addition, by working with suppliers, they can build better relationships that can lead to improved performance and higher resilience.

4. Technology implementation

Implementing new technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) can help improve supply chain visibility and resilience. These technologies can help companies gain real-time information about their supply chains, which can lead to optimized decision making and better risk management.