In a Fragmented World, It’s Technology That Brings Us Together

Rhea-AI Summary

SAP emphasizes the critical role of technology in enhancing supply chain resilience amid global disruptions. Acknowledging the challenges posed by COVID-19, climate change, and geopolitical tensions, the company advocates for advanced networks over traditional linear connections. These tech-enabled networks foster real-time collaboration, enabling businesses to optimize inventories, manage risks, and identify potential bottlenecks proactively. SAP highlights that in a fragmented world, leveraging technology is essential for maintaining flexibility and efficient operations across the value chain.

Positive

• Technological advancements proposed by SAP can enhance supply chain resilience.
• Focus on real-time data exchange supports better collaboration with suppliers and partners.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / January 13, 2023 / SAP

Originally published by World Economic Forum

Globalisation has made our supply chains more complex and, as a result, also more vulnerable. At the height of the COVID-19 pandemic, about 94% of Fortune 1,000 companies were struggling with supply chain issues. Climate change, the pandemic, the war in Ukraine and geopolitical tensions worldwide have shown the limits of our current economic models, with the impact of this hitting the agricultural, energy and hi-tech industries particularly hard.

Resilient supply chains have, therefore, become a priority, and technology the enabler: where linear one-to-one connections are prone to disruptions, networks of many-to-many connections allow companies to collaborate with partners along their value chain and exchange data in real-time. The 360-degree transparency across the entire value chain provides businesses with the flexibility and resilience to navigate even in the most dynamic environments. They can anticipate risks and manage sourcing, trading and distribution all the way to the consumer. They can optimise inventories, match supply and demand, and identify bottlenecks before they even occur. In case of supply chain disruptions, companies can quickly select alternative or more sustainable suppliers.

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In an increasingly fragmented world, technology plays a vital role in bringing us together. (Image courtesy of World Economic Forum)

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Contact Info:
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SOURCE: SAP

View source version on accesswire.com:
https://www.accesswire.com/735239/In-a-Fragmented-World-Its-Technology-That-Brings-Us-Together

FAQ

What role does SAP claim technology plays in supply chain resilience?

SAP claims technology is essential for enhancing supply chain resilience by enabling real-time data exchange and collaboration.

How has globalization affected supply chains according to SAP?

According to SAP, globalization has made supply chains more complex and vulnerable, particularly highlighted during the COVID-19 pandemic.

What key events have impacted supply chains mentioned in the SAP press release?

SAP mentions COVID-19, climate change, the war in Ukraine, and geopolitical tensions as key events impacting supply chains.

What benefits does SAP highlight from adopting advanced supply chain technology?

SAP highlights benefits such as improved flexibility, proactive risk management, and better inventory optimization through advanced supply chain technology.

What industries are particularly affected by supply chain issues as per SAP's findings?

SAP indicates that the agricultural, energy, and hi-tech industries are particularly affected by supply chain issues.