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And for supply chain improvement specifically, using the right technology in your business can give you the competitive advantage over other companies. Many companies are undergoing a digital transformation , switching from manual processes to automating routine tasks.
Strategic Benefits For companies that integrate autonomous delivery vehicles into their operations, benefits include: Cost Savings: Autonomous vehicles reduce the reliance on human drivers, which can significantly lower labor costs. Companies need to work closely with regulators to navigate this evolving landscape.
In an era of endless voluntary disclosures and increasing emissions reporting regulations arising across the globe, international companies are playing regulatory twister. This discussion illuminated the tough reality that many companies are currently navigating a regulatory maze.
Companies that prioritize low costs at the expense of ethics risk damaging their reputation, losing consumer trust, and facing legal consequences. In an era where information travels fast, companies must proactively disclose their practices, achievements, and challenges.
As inflation and geopolitical instability worsen, many companies are going slow on investments. Here are 3 tools that GEP recommends for your company to use. But investing in supply chain and procurement technology will help manage inflationary pressures better.
Today, life sciences companies face an entirely new competitive landscape. In addition, many companies lack the real-time visibility and collaboration needed across internal functions, as well as across multi-tier supply chain networks, hampering their ability to adapt strategies in real time wherever and whenever market forces require.
Trade policies are constantly evolving, forcing companies to assess how these changes impact customer demand, supply networks, fulfillment strategies, and cost to serve. Theres no shortage of commentary on how companies should respond move production, shift suppliers, and reconfigure operations are just a few common recommendations.
NIS 2 requires companies to implement appropriate technical and organizational measures to manage risks posed to the security of their network and information systems. Incident reporting also encourages greater transparency and collaboration between companies and regulatory authorities.
Companies are increasingly adopting electric and hydrogen-powered vehicles to transition away from fossil fuels. Innovations in biodegradable and reusable materials, coupled with lightweight designs that reduce shipping weight, are helping companies minimize waste and lower emissions.
Drawing on our work with global companies across manufacturing, automotive, pharmaceuticals, semiconductors, software, technology, financial services, and a range of service industries, we outline the key strategic and tactical actions companies are taking to navigate this period of heightened uncertainty.
Regulatory Demands: Governments worldwide are enforcing stricter emissions standards and introducing carbon taxation schemes, pressuring companies to adapt. Companies like DHL and Amazon are already setting benchmarks by integrating EVs into their logistics operations.
All companies and agencies above are heavily investing in technology and tools to deliver packages faster and more efficiently. Companies will become increasingly dependent on digital tools to sort, track, and mitigate issues at the border. In 2023, Amazon delivered around 5.9 billion packages more than UPS and FedEx.
Corporate Knights also ranked the company the most sustainable company in its peer group and the 7 th most sustainable company overall. The company has a complex global supply chain. Like many companies, the French multinational produces a significant amount of its products in low-cost nations.
Resilience is the ability to respond to disruption while maintaining core operations, and more companies are shifting their strategies accordingly. First, overreliance on a narrow group of suppliersespecially those in politically sensitive regionsexposes companies to risk when trade relationships shift.
A Fortune 500 CPG company partnered with GEP to improve end-to-end category management, optimize direct spend categories, and increase strategic focus on tail spend. This is essential reading for all procurement and supply chain leaders.
The company aims to change this with the expansion of its data fabric portfolio. When you combine the volume, complexity, and speed with which decisions need to be made and executed, the current way companies manage this is unsustainable. A supply chain data fabric can help companies augment their supply chain processes.
In the fourth quarter, we delivered the second largest software bookings in the history of the company. Customers, he asserted, also want a single company accountable for everything. The company now has almost 10,000 employees and is hiring rapidly. That’s something that’s changed the complete DNA of our company.
When you talk to companies that have implemented enterprise or supply chain applications, executives will usually admit that they have under-invested in training and preparing users to use the new technology. Molex is a private company headquartered in Lisle, IL in the US. The company uses a process monitoring tool called Celonis.
A manufacturing company, for example, can monitor real-time data from its suppliers, production lines, and distribution centers. By analyzing this data, the company can identify areas for improvement and implement changes to improve operational efficiency.
Faced with many fulfillment constraints and older operating models that can’t keep up, companies must look to the future. Download this GEP playbook to learn more about the next generation of fulfillment strategies and operating models.
This kind of visibility and control is redefining fleet operations, creating a framework for companies to enhance efficiency and precision across the board. In an increasingly competitive logistics landscape, these capabilities allow companies to remain agile and cost-effective.
The DOE is still issuing large federal loans to startup companies, Novonix a synthetic graphite startup just received a $755 million loan to support its mission and reach its goal of producing 31,500 metric tonnes of synthetic graphite. Despite recognizing these risks, only two companies have comprehensive traceability commitments.
Artificial intelligence (AI) is reshaping supply chain operations by enabling predictive planning, allowing companies to anticipate disruptions before they occur and adjust operations accordingly. Companies must react after the fact, often incurring higher costs and reduced service levels.
The current AI landscape can be viewed as a series of wars,” where companies and organizations are battling for dominance across various technological and market battlefronts. Nvidia continues to dominate with its high-performance GPUs, but companies like AMD and Intel are rapidly developing their own competitive offerings.
How can companies mitigate risks and build supply chain resilience? Almost 69% of businesses fear they’ll lose 10% of their revenues in 2022 due to supply chain disruptions, according to a GEP sponsored report from The Economist. Find out how!
Jack Fiedler, the vice president for digital transformation of the global supply chain at Lenovo Lenovo is ranked tenth by one leading analyst firm among a list of global companies with exceptional supply chains. I’ve not seen a company that does a better job of agile planning across an end-to-end, multi-tier supply chain.
A manufacturing company, for example, can monitor real-time data from its suppliers, production lines, and distribution centers. By analyzing this data, the company can identify areas for improvement and implement changes to improve operational efficiency.
As a result, companies tend to plan, optimize, and execute their inventory, labor, transportation, and warehousing operations separately (that is, in a siloed manner). Is that the case at your company? Historically, there has been a disconnect between Supply Chain Planning and Supply Chain Execution processes and applications.
This aligns with corporate sustainability goals and helps companies meet regulatory requirements related to emissions and energy consumption. Brand Image and Market Competitiveness Adopting renewable energy sources and advanced robotics positions companies as leaders in innovation and environmental stewardship.
Supply chain plays a crucial role for this Fortune 500 automotive manufacturer. With the onset of COVID-19 in 2020, along with demand and supply fluctuations in the subsequent years, many manufacturers, including this one, saw significant stress on their global supply chains.
Companies leaning heavily on global sourcing? Direct Material Procurement: Unlocking Major Cost Savings Heres the thing: for most companies, direct material procurementthe materials you need to actually make your productseats up the biggest percentage of supply chain costs.
The 25% tariffs on Canadian and Mexican imports and 20% tariffs on Chinese goods are expected to increase production costs, disrupt logistics networks, and force companies to rethink supply chains. Companies like Yeti have already moved 80% of their production out of China, decreasing exposure to tariffs.
Ted Krantz, CEO of Interos Interos , a company providing supply chain resilience and risk management software, emailed me to say that there was a supply chain risk everyone seemed to be ignoring – AI-related risks. Most argue that when the UI is trained with the companys own data, the risk of hallucination is small.
Both are advancing through operational trials led by companies like Amazon, UPS, Alphabet’s Wing, Tesla, and TuSimple. Companies including Amazon and Wing are developing drone delivery systems to optimize logistical processes within restricted urban spaces.
They noted the fact that companies whose leaders had supply chain experience took a more proactive approach to addressing potential supply-chain challenges, and in leveraging the supply-chain function to generate new business opportunities. They are no longer just vendors of goods and services.
Kendra is the VP of Global Transportation Management leading the managed transportation and brokerage divisions of Ryder System, Inc , a fortune 500 transportation and logistics company. NYSE: R) is a leading logistics and transportation company. is a Fortune 500 company specializing in transportation and logistics solutions.
Boeing Cuts Production and Downsizes on Employees Amid Company Troubles Boeing is cutting 17,000 jobs, delaying the first deliveries of its 777X jet to 2026, and recording $5 billion in third-quarter losses due to financial strain from a strike by 33,000 workers, which has halted production of key jets.
Postal Service reversing its package ban from China to LGs big robotics acquisition, companies are adapting to new regulations and automation trends. tax-free, could lead to higher prices and delays for consumers, impacting companies that rely on low-cost imports from China. From the U.S.
With the advent of Big Data, companies now have access to more business-relevant information than ever before and are using Hadoop to store and analyze it.
Supply chain teams face a similar dilemma – companies are overloaded with vast amounts of data, and the ability to sift through the noise and focus on relevant insights has become a critical capability. Companies must harness a wide variety of data structures and formats, spanning internal and external sources.
Known for its innovation, quality, and manufacturing excellence, the company wanted to go a step furtherby leveraging AI-driven supply chain optimization to enhance cart utilization and transition to a more robust Just-in-Time (JIT) framework. A key objective was to eliminate bottlenecks and boost productivity without increasing headcount.
These forces are accelerating mergers and acquisitions (M&A) as companies seek to adapt to a dynamic landscape, capitalize on emerging opportunities, and secure competitive advantages. In transportation and logistics, this has manifested as a significant focus on electrification and renewable energy integration.
During my current supply chain planning market research, I have received briefings from several SCP companies. At a division of one of the world’s largest consumer goods companies, 85% autonomy on manufacturing plans and 95% acceptance of proposed purchase orders has been achieved. All are investing in artificial intelligence.
The fight to find new customers and retain existing ones is the biggest business challenge for many companies. In 2022, as companies continue to move more functions online, employees will take a more virtual -- and flexible -- mindset and lifestyle in parallel to the digitization of businesses.
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