What is next for digital supply chain strategy – ey.com
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How data analytics can strengthen supply chain performance
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Principal, Supply Chain & Operations, Ernst & Young LLP
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.
How EY can help
Supply Chain & Operations Consulting Services
Discover how EY's supply chain team can help your business redefine its end-to-end supply chain and operations to support your enterprise objectives.
What is causing supply chain issues?
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.
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
Why supply chains must move to technology-enabled ecosystems
To mitigate constant disruption, COOs are transitioning linear supply chains to a fully networked digital ecosystem. Read more.
How COOs can lead the way on supply chain digital transformation
COOs are redesigning operating models and supply chains to navigate today’s complexities and evolving business models. Read more.
How the great supply chain reset is unfolding
Companies are making their supply chains more cost-efficient, resilient and sustainable in an increasingly uncertain world. Learn how.
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.
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!
Learn more
See more
AI insights
CEO agenda
CFO agenda
EY podcasts
EY webcasts
Operations leaders
Technology leaders
Marketing and growth leaders
Cybersecurity and privacy leaders
Risk leaders
EY Center for Board Matters
See more
EY helps clients create long-term value for all stakeholders. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate.
See more
Artificial Intelligence (AI)
Strategy, transaction and transformation consulting
Technology transformation
Tax function operations
Climate change and sustainability services
EY Ecosystems
Audit
Supply chain and operations
EY Partner Ecosystem
Explore Services
We bring together extraordinary people, like you, to build a better working world.
See more
Experienced professionals
MBA and advanced-degree students
Student and entry level programs
Contract workers
EY-Parthenon careers
Discover how EY insights and services are helping to reframe the future of your industry.
See more
Energy and resources
How data analytics can strengthen supply chain performance
13-Jul-2023Ben Williams
Metaverse
How Takeda harnessed the power of the metaverse for positive human impact
26-Jun-2023Edwina Fitzmaurice
Banking and Capital Markets
How cutting back infused higher quality in transaction monitoring
11-Jul-2023Ron V. Giammarco
At EY, our purpose is building a better working world. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets.
See more
EY is now carbon negative
19-Sep-2022Carmine Di Sibio
Our commitment to audit quality
13-Nov-2023Julie A. Boland
No results have been found
Topics
General
People
Recent Searches
Trending
BEPS 2.0: as policies evolve, engagement is key
It remains to be seen whether the US will align its tax law with the OECD/G20’s global BEPS 2.0 rules. MNEs will feel the impact in 2024. Learn more.
How GenAI strategy can transform innovation
Companies considering or investing in a transformative GenAI strategy should tie generative artificial intelligence use cases to revenue, cost and expense. Learn more
Top five private equity trends for 2024
Read about the five key trends private equity firms will emphasize in 2024 as they create value
Select your location
expand_more
Principal, Supply Chain & Operations, Ernst & Young LLP
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.
How EY can help
Supply Chain & Operations Consulting Services
Discover how EY's supply chain team can help your business redefine its end-to-end supply chain and operations to support your enterprise objectives.
What is causing supply chain issues?
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.
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
Why supply chains must move to technology-enabled ecosystems
To mitigate constant disruption, COOs are transitioning linear supply chains to a fully networked digital ecosystem. Read more.
How COOs can lead the way on supply chain digital transformation
COOs are redesigning operating models and supply chains to navigate today’s complexities and evolving business models. Read more.
How the great supply chain reset is unfolding
Companies are making their supply chains more cost-efficient, resilient and sustainable in an increasingly uncertain world. Learn how.
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.
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!
