The Importance and Steps to Develop a Resilient Supply Network and Ecosystem - July 21, 2023

BY JAMES BAILEY, DIRECTOR, SOLUTION CONSULTING, INFOR NEXUS™

In an increasingly interconnected and globalized world, the importance of resilient supply networks and ecosystems cannot be overstated. Supply networks encompass the complex web of suppliers, manufacturers, distributors, and customers that facilitate the flow of goods and services. Meanwhile, ecosystems represent the interdependent relationships and interactions between organizations, industries, governments, and communities. By cultivating resilience within these networks and ecosystems, businesses can better withstand disruptions, adapt to changing circumstances, and ultimately thrive in today's dynamic and uncertain landscape.  Read more here..

https://www.infor.com/blog/importance-of-resilient-supply-network-ecosystem

#supplychain #infornexus #reslience

The 5 Deadly Sins of New Technology Projects

Forming new vendor relationships can be a daunting undertaking even on the best day. Often we see companies make these same mistakes over and over when choosing any new technology provider. Before you dive into your ever tightening technology budget, ensure your team isn't falling into these common "Deadly Sins":

1. Failing to engage multiple stakeholders when writing the RFI/RFP. Ensure you are asking the right questions for the specific project, this means including management, operations, and IT in the conversation.
2. Buying the “Shiny New Toy” before due diligence with their backend capabilities. In essence, don’t believe the hype until you see proof of the results promised.
3. Choosing “technology” not a Technology Partner. Make sure your tech partner will invest into YOUR company’s growth strategy.
4. Lack of vetting the vendor's integration and implementation strategy to ensure it is prescriptive and drives your company’s strategic initiatives. Does the provider have a time to value mentality?
5. Not asking for the vendor's roadmap. Are you going to grow out of them or will you grow WITH your chosen technology provider during your partnership. Find strategic alignment. 

Ensuring your chosen technology partners have a forward path to your success is vital. Let's discuss the things you find challenging during these selection processes!

Inflation is Inflicting Pain on Supply Chains. Here’s How to Ease It.

Supply Chain Brain

July 19, 2023 Fernando Correa, SCB Contributor

The freight industry has little leverage over the factors fueling inflation today, from the lingering effects of the pandemic to fiscal policy, to corporations raising prices. But it’s suffering the consequences nonetheless, despite recent signs of some inflation cooling. 

Labor costs are increasing as demand for goods and services is recently decreasing, creating a perfect storm that is impacting profitability across every mode of transport, from sea to road. 

Fortunately, shippers and carriers have the power to reduce the pain of inflation on their bottom line. First, let’s recognize that inflation is exacerbating long-standing, systemic inefficiencies. And then, let’s create the change we need to make us all more resilient in an unpredictable economic climate and beyond....read more here

https://www.supplychainbrain.com/blogs/1-think-tank/post/37668-inflation-is-inflicting-pain-on-supply-chains-heres-how-to-ease-it