What is next for digital supply chain strategy – EY
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Principal, Supply Chain & Operations, Ernst & Young LLP
Supply chain aficionado. A true global citizen and explorer with experience working in over 25 countries. Father and personal tutor/homework helper to two daughters.
In brief
The landscape of global supply chains has undergone a significant transformation in recent years. From geopolitical tensions to digital disruptions and climate change pressures, companies are facing a multitude of challenges that are reshaping the way they think about supply chain strategy. In response to these disruptions, a new paradigm of supply chain reimagination is emerging, driving companies to rethink their strategies and adopt a holistic approach to ensure resilience and capitalize on new opportunities.
Watch EY Americas supply chain markets leader, Sumit Dutta, discuss how COOs are reshaping the way think about their supply chains, with resiliency, sustainability, and digital transformation leading the way.
The world has experienced a sustained period of geopolitical tension, leading to significant shifts in supply chain dynamics. The war in Ukraine, for example, resulted in a doubling1 of global cereal and oilseed prices, causing ripple effects across various industries. Additionally, CEOs are grappling with the prospect of a sustained period of inflation, with around 34% of them anticipating higher input prices in the foreseeable future.2
Digital disruption has also played a crucial role in reshaping supply chains. Supply chain digitalization has accelerated, with 78% of supply chain executives acknowledging the transformative power of digital technologies.3 This shift toward digitalization brings new opportunities for efficiency gains and improved decision-making across the entire supply chain.
Strategic interventions, such as near shoring and reshoring, have become imperative for companies seeking to build resilient supply chains. A staggering 96% of executives are considering these strategic interventions to mitigate risks and ensure a stable supply of goods and services.4
Furthermore, the increasing pressure to address climate change and build sustainability has become a defining factor for supply chain reimagination. Consumers are more conscious of the environmental impact of products, with 75% of US consumers expressing concerns in this regard.5 As a result, companies are embracing sustainability-led supply chain redesign to align with evolving consumer expectations.
Based on your overarching strategy, we’ll help redefine your end-to-end supply chain and operations to support your enterprise objectives.
To navigate these complexities and seize opportunities, companies must embrace a comprehensive approach to supply chain reimagination. This framework revolves around four key pillars:
A review of previous EY supply chain engagements reveals that the adoption of a supply chain reimagination framework has resulted in significant benefits and impacts for clients across four dimensions:
By focusing on these four areas of supply chain reimagination, companies can potentially achieve a profound impact on their profit and loss statements.
The landscape of supply chains is evolving rapidly, driven by a confluence of macro disruptions and the need for sustainability and resilience. Companies that embrace the supply chain reimagination framework can position themselves at the forefront of this transformation. By adopting a holistic approach and leveraging technology, process excellence and strategic interventions, organizations can build resilient supply chains, manage costs, enhance digitalization and align their operations with changing market dynamics.
As the business environment continues to evolve, supply chain reimagination is no longer an option but a necessity for companies seeking long-term success. By rethinking their strategies and embracing these four pillars, organizations can unlock the full potential of their supply chains and thrive in an increasingly complex and dynamic world.
Over a decade ago, supply chain management was commonly regarded as a functional necessity focused on operational excellence and cost control. The global pandemic elevated the supply chain to a board-level discussion. Now supply chain leaders have an opportunity to reimagine their supply chains for the future to tackle increasing disruption in all its forms, including geopolitical, digital, natural disaster, economic and future health crises. The EY supply chain reimagination framework can help COOs chart a path to increased resilience, sustainability and autonomous supply networks.
About this article
Principal, Supply Chain & Operations, Ernst & Young LLP
Supply chain aficionado. A true global citizen and explorer with experience working in over 25 countries. Father and personal tutor/homework helper to two daughters.
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EY | Assurance | Consulting | Strategy and Transactions | Tax
About EY
EY is a global leader in assurance, consulting, strategy and transactions, and tax services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
© EYGM Limited. All Rights Reserved.
EYG/OC/FEA no.
ED MMYY
This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
How GenAI strategy can transform innovation
Select your location
No search results have been found
Local sites
Principal, Supply Chain & Operations, Ernst & Young LLP
Supply chain aficionado. A true global citizen and explorer with experience working in over 25 countries. Father and personal tutor/homework helper to two daughters.
In brief
The landscape of global supply chains has undergone a significant transformation in recent years. From geopolitical tensions to digital disruptions and climate change pressures, companies are facing a multitude of challenges that are reshaping the way they think about supply chain strategy. In response to these disruptions, a new paradigm of supply chain reimagination is emerging, driving companies to rethink their strategies and adopt a holistic approach to ensure resilience and capitalize on new opportunities.
Watch EY Americas supply chain markets leader, Sumit Dutta, discuss how COOs are reshaping the way think about their supply chains, with resiliency, sustainability, and digital transformation leading the way.
The world has experienced a sustained period of geopolitical tension, leading to significant shifts in supply chain dynamics. The war in Ukraine, for example, resulted in a doubling1 of global cereal and oilseed prices, causing ripple effects across various industries. Additionally, CEOs are grappling with the prospect of a sustained period of inflation, with around 34% of them anticipating higher input prices in the foreseeable future.2
Digital disruption has also played a crucial role in reshaping supply chains. Supply chain digitalization has accelerated, with 78% of supply chain executives acknowledging the transformative power of digital technologies.3 This shift toward digitalization brings new opportunities for efficiency gains and improved decision-making across the entire supply chain.
Strategic interventions, such as near shoring and reshoring, have become imperative for companies seeking to build resilient supply chains. A staggering 96% of executives are considering these strategic interventions to mitigate risks and ensure a stable supply of goods and services.4
Furthermore, the increasing pressure to address climate change and build sustainability has become a defining factor for supply chain reimagination. Consumers are more conscious of the environmental impact of products, with 75% of US consumers expressing concerns in this regard.5 As a result, companies are embracing sustainability-led supply chain redesign to align with evolving consumer expectations.
Based on your overarching strategy, we’ll help redefine your end-to-end supply chain and operations to support your enterprise objectives.
To navigate these complexities and seize opportunities, companies must embrace a comprehensive approach to supply chain reimagination. This framework revolves around four key pillars:
A review of previous EY supply chain engagements reveals that the adoption of a supply chain reimagination framework has resulted in significant benefits and impacts for clients across four dimensions:
By focusing on these four areas of supply chain reimagination, companies can potentially achieve a profound impact on their profit and loss statements.
The landscape of supply chains is evolving rapidly, driven by a confluence of macro disruptions and the need for sustainability and resilience. Companies that embrace the supply chain reimagination framework can position themselves at the forefront of this transformation. By adopting a holistic approach and leveraging technology, process excellence and strategic interventions, organizations can build resilient supply chains, manage costs, enhance digitalization and align their operations with changing market dynamics.
As the business environment continues to evolve, supply chain reimagination is no longer an option but a necessity for companies seeking long-term success. By rethinking their strategies and embracing these four pillars, organizations can unlock the full potential of their supply chains and thrive in an increasingly complex and dynamic world.
Over a decade ago, supply chain management was commonly regarded as a functional necessity focused on operational excellence and cost control. The global pandemic elevated the supply chain to a board-level discussion. Now supply chain leaders have an opportunity to reimagine their supply chains for the future to tackle increasing disruption in all its forms, including geopolitical, digital, natural disaster, economic and future health crises. The EY supply chain reimagination framework can help COOs chart a path to increased resilience, sustainability and autonomous supply networks.
About this article
Principal, Supply Chain & Operations, Ernst & Young LLP
Supply chain aficionado. A true global citizen and explorer with experience working in over 25 countries. Father and personal tutor/homework helper to two daughters.
Connect with us
Our locations
Careers
Webcasts
My EY
Site map
Do Not Sell or Share My Personal Information
Legal and privacy
Accessibility
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
YouTube
EY | Assurance | Consulting | Strategy and Transactions | Tax
About EY
EY is a global leader in assurance, consulting, strategy and transactions, and tax services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
© EYGM Limited. All Rights Reserved.
EYG/OC/FEA no.
ED MMYY
This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. remember settings), and Performance cookies to measure the website’s performance and improve your experience., and Marketing/Targeting cookies, which are set by third parties, allow us to execute marketing campaigns, manage our relationship with you, build a profile of your interests and provide you with content or service offerings in accordance with your preferences.
We have detected that Do Not Track/Global Privacy Control is enabled in your browser; as a result, Marketing/Targeting cookies, which are set by third parties that allow us to execute marketing campaigns, manage our relationship with you, build a profile of your interests and provide you with the content or service offerings in accordance with your preferences are automatically disabled.
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Review our cookie policy for more information.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
