Every year, the business world is deluged with buzz words and in the electronics supply chain sector is no different. In 2017, there was a lot of talk about innovation, digitalization, and disruption. Taking a look back can provide some direction for the coming year for organizations both large and small.
A look at supply chains in the headlines underlines the importance of the supply chain to the success or failure of important business initiatives. In the wake of product announcements of the Apple iPhone X, the company’s supply chain strategy was as much under scrutiny as the organization’s technology choices. Meanwhile, hurricanes, earthquakes and fires plagued supply chain pros and spurred conversations around risk analysis and mitigation.
Technology is at the center of many of these changes, as organizations consider how big data, artificial intelligence, robotics, machine learning, and more can transform their businesses. The supply chain is a reasonable place to start leveraging new technology for good business value. “Procurement is responsible for delivering two-thirds of sales,” said head of strategy research at Procurement Leaders in a Forbes article. “Moreover, in some of the leading organizations, purchasing teams are gradually assuming responsibilities for innovation.”
This combination of risk, both caused by people and by nature, combined with the availability of new and powerful technology introduced another pervasive buzzword for the year: pivot. IN order to respond to changing conditions and customer expectations, supply chain organizations are focusing on remaining nimble and responsive, able to pivot at a moment’s notice.
The infographic below, created by eft, looks statistically at some of these trends. Take a look and let us know the big supply chain trends you saw at your company. What big trends do you think are on the horizon for 2018? Let us know in the comments section below.
— Hailey Lynne McKeefry, Editor in Chief, EBN