The once-in-a-century COVID-19 pandemic thrust supply chain challenges under the microscope, prompting many companies to accelerate plans for digitization and modernization. As a result, many companies are hardening their supply chains and shifting away from a focus on low-cost suppliers and lean inventory to a model that makes localization, stability and resiliency a priority.
Manufacturers are expected to invest in the industrial internet of things (IIoT) and B2B collaborative network ecosystems to support reshoring of strategic supplies that align with new government policies aimed at bolstering domestic manufacturing.
By the end of 2021, 90% of all manufacturing supply chains will have invested in the technology and business process transformation necessary to establish resiliency.
The goal is a fully transparent, semi-automated, real-time supply chain — one that provides true end-to-end visibility and traceability, and places a premium on resiliency to deliver a competitive advantage.
https://searcherp.techtarget.com/feature/The-future-of-supply-chains-is-here