The constant disruption of supply and the current climate of geopolitical and economic instability means that procurement has never been a more pressing requirement to become an essential business function. This is driving the rise of AI and machine learning (ML) solutions for automating the more non-serious aspects of purchasing – which, historically, were a time-waster for the industry.Procurement leaders…
The more steps are included in your plan for logistics; the greater efficient your overall procedure will need to be. If a variety of materials have to be provided… The more steps you have within your logistics process, the more efficient the entire process will be. Suppose various materials have to be shipped to a specific area at various periods.…
Procurement software firm Ivalua and product ID company Trimco advise that using sustainability-related language is crucial to avoid greenwashing in the supply chain. Greenwashing is a term that was invented by the environmentalist Jay Westerveld in a 1980s essay that looked into how the hotel industry operates. He claimed that the industry was misleadingly promoting towels in the context of…
Although the use of blockchain technology in supply chain operations is fairly infrequent, Tech Mahindra is among the first to push for its adoption. Non-fungible tokens and cryptocurrencies (NFTs) are the mainstays of all the attention in blockchain technology. Still, the people behind the technology know how effectively it can transform crucial elements of the business world, including the supply…
The cold chain industry is a market worth $700 billion; however, half of the companies that require cold supply chain services do not have a dedicated team to ensure the safety of their products. According to a report, logistics for cold chains is a market worth $700 billion, but many shippers aren’t in control of cold chain logistics. The cold…
