Supply Chain & Logistics
7 Best Practices to Master Supply Chain Integration in 2024
The recent global pandemic highlighted the importance of supply chain resilience (Figure 1) and digitization. Organizations can strengthen and sustain their vertical supply chain by fully embracing and effectively implementing supply chain integration practices.
Vendor Management Software in 2024: Top Vendors & Features
A healthy supply chain is an overriding concern for many businesses. According to IBM, 87% of CSCOs report that it is difficult to predict and proactively manage disruptions, and less than 10% of supply chain data is efficiently used with traditional techniques.
Know Your Supplier (KYS) in 2024: Key Components & Checklist
Supplier-related disruptions may affect supply chain stability and resilience immensely. So, a supplier network should be trustable both ethically and financially. For example, vendor fraud is one of the most disruptive vendor-related problems in supply chain. According to PwC, 19% of economic crimes and frauds are committed by vendors/suppliers.
12 Blockchain in Supply Chain Case Study in 2024
Blockchain is a revolutionary technology for supply chain management for businesses that are eager to downsize human-error-related problems.
Blockchain in Supply Chain: Benefits & Top Use Cases in 2024
Today’s supply chains are more complex than ever due to the globalization of the market. Nearly half of supply chain leaders say that they only have visibility into their first-tier suppliers but not their upstream supply chain. Any business with a supply chain has to manage all of the multiple suppliers, manufacturers, consumers, logistics, etc.
7 Types of Vendor Fraud & How to Prevent Them in 2024
A PwC survey found that nearly half of companies had experienced fraud in the past two years, with vendors/suppliers being one of the top external perpetrators. Vendor fraud can be caused by one or more vendors, employees, or a collaboration between vendors and employees.
Supplier Risk in 2024: 5 Types & Tech Solutions
Supplier risk refers to any potential financial, operational, or ethical risks a supplier can impose on a client company. As companies in today’s global world have a complex and interconnected business web with many suppliers, supplier risk can be seriously damaging for a company if not monitored.
Workload Automation in Supply Chain: Unlock 26 Benefits '24
We explain 26 benefits of workload automation in supply chain such as improved data workflow orchestration in supply chain integration.
Supply Chain APIs vs. EDIs in 2024: Benefits & Downsides
Effective and timely communication is critical in the supply chain, where multiple stakeholders collaborate. APIs enable real-time communication between multiple parties, so it is not surprising that companies that have adopted APIs have seen their market capitalization grow by more than 12% compared to companies that have not adopted APIs.
5 Ways Hyperautomation Improves Supply Chains in 2024
According to Gartner, over 70% of commercial enterprises have plenty of automation initiatives, but these initiatives are often siloed and not coordinated with business objectives. Moving towards supply chain autonomy requires a coordinated hyperautomation effort that leverages intelligent technologies to automate as many processes as possible.