Supply chains were already tested by competitive trade wars, and the pandemic made things that much worse. It’s time for companies to get smart—and use data led strategies for growth.
Thanks to the pandemic many global supply chains are not equipped to cope with the world we are entering.
Most were engineered to manage stable, high-volume production by capitalizing on labor-arbitrage opportunities available in China and other low-cost countries.
Even as the sector prepares to navigate through complexities, the Fourth Industrial Revolution has brought technological advancements to a level never seen before, such as Internet of Things (IoT), Artificial Intelligence (AI), Robotic Process Automation, drones aim to increase visibility and accountability in the supply chain industry with Logistics 4.0.
At Future of Work 2021, a panel of logistics experts described how India’s supply chains are unorganised, and how high friction in the market can be solved through seamless integration among logistics stakeholders.