Press releases

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

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.

Business models: from analogue companies to intelligent enterprises

Faced with strong fluctuations in supply and demand, dynamic purchasing behaviour and growing pressure to innovate, companies recognize the need to become more agile and resilient. But for many, fragmented process landscapes prevent them from reacting quickly to change. Data is often stored in siloes and so not equally available to all decision makers.

Digitalisation and the automation of core processes end-to-end is not only a competitive advantage, it is critical to an organization’s survival. This is not about replacing people with tech. It’s about giving people back the freedom to do what they do best: being creative. With reliable data and the help of artificial intelligence, companies are better able to keep track of what is happening in their business and why. This not only makes them more efficient, but also more flexible and faster, especially in times of crisis.

However, it is no longer enough to be resilient as an individual company. This is just the first step towards a new way of doing business.

Supply chains: from linear connections to transparent business networks

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.

Related Post
Innovation Newsletter
Don't miss the most important news about Innovation. Sign up to receive them by email.

The future belongs to companies that understand how to operate profitably, resiliently and sustainably together with their ecosystem. And this mindset, the understanding of the power of ecosystems, is one of the most important prerequisites for solving global challenges.

Sustainability: from image driver to social and economic imperative

The recent report by the World Meteorological Organization (WMO) shows that the past eight years have been the warmest on record. The sea level rise rate has doubled since 1993, with the increase over the past two and a half years accounting for 10% of the total increase over the past 30 years. In addition, with growing socio-political pressure and increasing social inequality, the importance of sustainability is changing.

Business leaders feel the urgency from all sides. Investor awareness around global challenges such as climate change, pollution and inequality have increased, as has customer demand by a factor of 7x from 2021 to 2022. Employees are making career choices based on their employer’s sustainability commitments and track record, while governments are introducing new regulations. Sustainability, therefore, needs to become the North Star of every company, an integral part of the corporate strategy.

There is no business without sustainable business, and when it comes to the planet, the connection between digital and climate is fundamental to solve human problems. Promoting digital solutions for energy efficiency, scope 3 transparency, circularity and carbon data sharing, in collaborative networks led by industry leaders and climate coalitions, will become a powerful blueprint for future sustainable business strategy, particularly in high-emission sectors like energy, materials and mobility.

Ultimately, collaboration and networks are at the heart of the solutions to our global challenges. In a business network, companies can not only measure environmental, social, and corporate governance (ESG) in their own company, but across their whole value chains. They record verified data based on actuals, not averages. They can report against a quickly evolving set of ESG standards and, most importantly, they can act beyond ambitious targets by embedding sustainability across all of their business processes and value chains. This enables companies to create fair and safe working environments, reduce waste and decarbonise the entire value chain (scope 1-3) – providing the basis of the circular economy. At the end of the day, companies are only as sustainable and resilient as their ecosystems.

In an increasingly fragmented world where global challenges threaten to divide us, technology plays a vital role in bringing us together.

BlogofInnovation.com

Innovation Newsletter
Don't miss the most important news about Innovation. Sign up to receive them by email.

Recent Posts

TIMES BPO Rings in the Revenue Revolution for Ambitious Businesses

Imagine a world where your phone rings not with complaints, but with eager customers ready to buy. A world where…

3 hours ago

[NEW] The 2024 Best Pokémon GO Spoofer for iPhone and Android | Tenorshare iAnyGo

NEW YORK, N.Y., July 17, 2024 (SEND2PRESS NEWSWIRE) — Tenorshare is excited to announce the launch of the 2024 edition…

12 hours ago

The Cloud Wars: A Ranking of Leading Cloud Service Providers

In the realm of digital transformation, cloud computing has emerged as a pivotal technology driving innovation across industries. As businesses…

16 hours ago

GRG PROFESSIONAL SERVICES LTD and Mindrops Merge: A New Era in Global Business Solutions

In a move that’s set to shake up the business services landscape, GRG PROFESSIONAL SERVICES LTD and Mindrops have announced…

1 day ago

More than 3,000 health care organizations recognized for commitment to high-quality cardiovascular care

​​DALLAS, July 16, 2024 — Someone in the United States dies of cardiovascular disease (CVD) every 34 seconds, on average.[1]…

2 days ago

Rascals Wins “Training Diaper Product of the Year” In 2024 Baby Innovation Awards

Annual Awards Program Recognizes Innovative Companies, Services and Products Within the Baby Care Industry Annual Awards Program Recognizes Innovative Companies,…

2 days ago

Seguici

Innovation Newsletter
Don't miss the most important news about Innovation. Sign up to receive them by email.