Citi GPS - Supply Chain Technology to Drive Efficiency, Resilience and Transparency

Rhea-AI Summary

Citi publishes report on supply chain technology and its potential to improve efficiency, resilience, and transparency.

Positive

• New technologies in production, transportation solutions, and digitization of documentation and payments can help keep supply chains running smoothly.

Negative

• Slowly disentangling supply chains may not be easy due to complex and integrated ecosystems.

LONDON--(BUSINESS WIRE)-- Citi has published its latest Global Perspectives & Solutions (Citi GPS) report titled: SUPPLY CHAIN TECHNOLOGY - Improving Efficiency, Resilience, and Transparency. The report looks at how recent disruptions to global supply chains are driving firms to embrace digitalisation and technological innovations more broadly, across production and storage, delivery and recycling, and decision-making.

COVID-19 created a bullwhip like effect in global markets, leading to an examination of the supply chain management practices that prevailed before the pandemic. Whether global supply chain structures were robust, cost-effective, and reliable, and whether the demand for goods was relatively smooth and predictable have all be called into question.

Today’s report looks at some 20 different areas of supply chain technology across Production & Storage, Delivery & Recycling, Decision-Making and Digitalization and which are likely to enhance supply chain management practices. Some of these are technologies that are already used in practice, while others are more conceptual. All, however, hold the potential to help lead to a more stable global supply chains.

“With vulnerabilities in supply chains exposed by COVID-19 and geopolitical tensions, many firms are adjusting their operations, but we conclude many changes are still ahead” says Rob Garlick, Head of Innovation and Technology, Citi Global Insights, adding “New technologies in production to automate processes, novel transportation solutions, or the digitization of documentation and payments will all help keep supply chains running smoothly”.

Slowly disentangling supply chains may not be easy — complex and integrated ecosystems have developed with local ecosystems for raw materials, suppliers, and know-how matter and make production and supply chains sticky. Technological disruption, however, can act as a jolt to this dynamic.

About Citi Global Perspectives & Solutions (Citi GPS)

As our premier thought-leadership product, Citi Global Perspectives & Solutions (Citi GPS) is designed to help readers navigate the most demanding challenges and greatest opportunities of the 21st century. We access the best elements of our global conversation with senior Citi senior professionals, academics, and corporate leaders to anticipate themes and trends in today’s fast-changing and interconnected world.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

www.citigroup.com |Twitter: @Citi | www.youtube.com/citi | http://blog.citigroup.com | www.facebook.com/citi | www.linkedin.com/company/citi

View source version on businesswire.com: https://www.businesswire.com/news/home/20231019314283/en/

Citi, Securities Services: Richard Bicknell (richard.bicknell@citi.com)

Citi, GPS: Francesco Meucci (francesco.meucci@citi.com)

Source: Citi

FAQ

What is the title of Citi's latest report?

The title of Citi's latest report is 'SUPPLY CHAIN TECHNOLOGY - Improving Efficiency, Resilience, and Transparency'.

What are some areas of supply chain technology discussed in the report?

The report looks at some 20 different areas of supply chain technology across Production & Storage, Delivery & Recycling, Decision-Making, and Digitalization.

How can new technologies help supply chain management practices?

New technologies in production, transportation solutions, and digitization of documentation and payments can help enhance supply chain management practices.

Why may slowly disentangling supply chains be difficult?

Slowly disentangling supply chains may not be easy due to complex and integrated ecosystems developed with local ecosystems for raw materials, suppliers, and know-how.