Digital adoption strengthens supply chains

A significant gap in supply chain efficiency lies in the adoption of modern, digital technologies, says a new IDC whitepaper, sponsored by OpenText.

Companies further along in their business-to-business (B2B) digital transformation perform better in revenue, profit, customer satisfaction, and responsiveness rate, the study suggests. Over 78 per cent of respondents reporting that B2B integration has improved supply chain performance.

Climate change, conflict, COVID-19 and rising costs are leading to conditions that mean the number of child labourers has increased for the first time in two decades. Now, 160 million children are trapped in child labour.

The report urges parliamentarians to pass Bill S-211, the Fighting Against Forced Labour and Child Labour in Supply Chains Act. If passed, this bill would require companies to publicly report on their efforts to prevent the use of forced labour and child labour within their global supply chains.

“B2B integration represents the backbone of a digital-first, resilient supply chain and should be a top priority for those companies that three areas identified for 2022-23: net-zero governance, net-zero industrial policy, and net-zero energy systems. remain encumbered by manual paperbased processes,” said Simon Ellis, program vice-president at IDC. Although supply chain resiliency is critical, companies have faced difficulties in detailing the business case, justifying ROI, and building internal capabilities. While 71 per cent have increased supply chain investments, only six per cent reported being at the highest level of maturity for digital supply chain resiliency.

This advice came through consulting with industry experts, academia, non-governmental organizations and associations, and Indigenous rights-holders.

Launched in February 2021, the NZAB provides independent advice to the Minister of Environment and Climate Change regarding achieving net-zero emissions by 2050.

When asked about supply chain improvement by automating different collaboration documents, 80 per cent cite levels of improvement, including the cost of handling and sharing information, staffing efficiencies, and KPI improvements.

The study highlights artificial intelligence (AI) and advanced analytics – 44 per cent reported using AI/ machine learning (ML) to generate predictive insights and 17 per cent reported they use basic analytics.

BY CHRISTIAN SIVIÈRE