Skip to content
Search AI Powered

Latest Stories

Gartner lists three strategies to weather supply chain disruptions

Risks range from macro threats like natural disasters to micro disruptions like new entrants to the market, firm says.

gartner Screen Shot 2022-09-28 at 4.15.39 PM.png

Under pressure from the rising frequency and magnitude of supply chain disruptions, chief supply chain officers (CSCOs) can take three particular actions to navigate change on both the macro and micro level, according to a study from the analyst firm Gartner Inc.

“There are many types of macro supply chain disruptions, including natural disasters, trade wars, political unrest, cybersecurity breaches, and other events,” Chris Poole, Practice VP with the Gartner Supply Chain practice, said in a release. “In addition to managing those macro disruptions, CSCOs must also pay close attention to micro disruptions, such as new entrants to the market, emerging technologies, and internal organizational changes.”


In response to those rising threats, CSCOs can follow a strategic playbook with three broad approaches, the firm said.

First, leaders should understand their organization’s risk appetite and areas of exposure. The term “risk appetite” generally refers to the amount of risk a business is intentionally taking to achieve their strategic objectives. That measure varies widely between different companies, but a 2022 Gartner survey among 273 board members found that 57% are increasing their risk appetite, even during disruptive times.

Second, CSCOs should accelerate their company’s digital transformation efforts, which can be crucial tools to help mitigate disruption. For example, new technologies can improve the agility of the supply chain by improving a company’s ability to sense and respond quickly to unanticipated changes in demand and supply. 

And third, supply chain executives should extend their partner ecosystem, making an effort to better connect the organization’s supply chain with its partners, customers, manufacturing sites, vehicles and other machines, and other nodes to extend visibility to sense disruption. “The greater the ecosystem, the greater the reach to sense changes and increase options for a path forward,” Poole said.
 

 

Recent

More Stories

photos of grocery supply chain workers

ReposiTrak and Upshop link platforms to enable food traceability

ReposiTrak, a global food traceability network operator, will partner with Upshop, a provider of store operations technology for food retailers, to create an end-to-end grocery traceability solution that reaches from the supply chain to the retail store, the firms said today.

The partnership creates a data connection between suppliers and the retail store. It works by integrating Salt Lake City-based ReposiTrak’s network of thousands of suppliers and their traceability shipment data with Austin, Texas-based Upshop’s network of more than 450 retailers and their retail stores.

Keep ReadingShow less

Featured

minority woman with charts of business progress

Study: Inclusive procurement can fuel economic growth

Inclusive procurement practices can fuel economic growth and create jobs worldwide through increased partnerships with small and diverse suppliers, according to a study from the Illinois firm Supplier.io.

The firm’s “2024 Supplier Diversity Economic Impact Report” found that $168 billion spent directly with those suppliers generated a total economic impact of $303 billion. That analysis can help supplier diversity managers and chief procurement officers implement programs that grow diversity spend, improve supply chain competitiveness, and increase brand value, the firm said.

Keep ReadingShow less
Logistics industry growth slowed in December
Logistics Managers' Index

Logistics industry growth slowed in December

Logistics industry growth slowed in December due to a seasonal wind-down of inventory and following one of the busiest holiday shopping seasons on record, according to the latest Logistics Managers’ Index (LMI) report, released this week.

The monthly LMI was 57.3 in December, down more than a percentage point from November’s reading of 58.4. Despite the slowdown, economic activity across the industry continued to expand, as an LMI reading above 50 indicates growth and a reading below 50 indicates contraction.

Keep ReadingShow less
pie chart of business challenges in 2025

DHL: small businesses wary of uncertain times in 2025

As U.S. small and medium-sized enterprises (SMEs) face an uncertain business landscape in 2025, a substantial majority (67%) expect positive growth in the new year compared to 2024, according to a survey from DHL.

However, the survey also showed that businesses could face a rocky road to reach that goal, as they navigate a complex environment of regulatory/policy shifts and global market volatility. Both those issues were cited as top challenges by 36% of respondents, followed by staffing/talent retention (11%) and digital threats and cyber attacks (2%).

Keep ReadingShow less
cargo ships at port

Strike threat lingers at ports as January 15 deadline nears

Retailers and manufacturers across the country are keeping a watchful eye on negotiations starting tomorrow to draft a new contract for dockworkers at East coast and Gulf coast ports, as the clock ticks down to a potential strike beginning at midnight on January 15.

Representatives from the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) last spoke in October, when they agreed to end a three-day strike by striking a tentative deal on a wage hike for workers, and delayed debate over the thornier issue of port operators’ desire to add increased automation to port operations.

Keep ReadingShow less