TMCnet News
Reimagined Supply Chains Emerge From Global Crisis as Enterprises Focus on Data Insights to Mitigate RiskNew research from Orange Business Services (News - Alert) found that the supply chains in 40% of multinational corporations were unable to cope with the crisis created by the pandemic. The survey of 320 enterprises, focusing on the manufacturing, transport and logistics sectors, revealed that the global crisis has dramatically changed attitudes to risk. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005471/en/ If actions by organizations follow their ambition, digitally-driven sustainability management programs will become near universal within two years. Credit Orange Business Services Some 83% of respondents said they are more aware of supply chain risks, such as raw material shortages, manufacturing shutdowns, or transport blockages, than twelve months ago. The pandemic has woken them up and made them realize they need more speed, agility and innovation to cope with change. Building resilience and sustainability into supply chains through digitalization and real-time data insights is a priority for transformation strategies and essential to the survival of many companies.
Reinforcing the supply chain
Two out of five respondents to the survey said their supply chain could not cope at the height of the crisis. Technological enablers, including artificial intelligence (AI), cloud, 5G and big data analytics will now play important roles in strengthening supply chains through enhanced planning and execution. Collecting and sharing real-time data will improve efficiencies and visibility across the entire supply chain, while supporting relationships between suppliers and manufacturers for smart decision making. "The global health emergency has made organizations accept the fragility of their ecosystems. Critical gaps must be plugged to ensure end-to-end visibility on a global scale and minimize the risk to the busines. Digital technologies and capabilities are the key in allowing enterprises and their partners to reimagine their supply chain securely," said Kristof Symons, executive vice president, International, Orange Business Services. "Digitalization and data collection will also be primary enablers to become more sustainable and save costs as well as the planet," added Symons.
Reenergizing sustainability programs
Moving forward, 85% of respondents said their business is investing to become more sustainable. This includes new data collection technologies to give better insight into sustainability metrics and managing and controlling factors such as energy usage. "The pandemic will stop, somehow. But climate change, sustainability - those trends and risks are here for the next few decades," explains Erwin Verstraelen, CDO and CIO at the Port of Antwerp. "For example, The European Green Deal is going to put more pressure on all stakeholders to identify the origins of emissions and minimize their environmental footprint. The supply chain is an important element of that." If actions by organizations follow their ambition, digitally-driven sustainability management programs will become near universal within two years. The report, Real-time Intelligence and the Future of Supply Chains surveyed 320 senior executives from multinationals across 18 countries between August and October 2020. The survey was carried out for Orange Business Services by independent research group Longitude, a Financial Times (News - Alert) company.
About Orange Business Services
With companies thriving on innovation, Orange Business Services places its customers at the heart of an open collaborative ecosystem. This includes its 27,000 employees, the assets and expertise of the Orange Group, its technology and business partners, and a pool of finely selected start-ups. More than 3,000 multinational enterprises, as well as two million professionals, companies and local communities in France, put their trust in Orange Business Services. For more information, visit www.orange-business.com or follow us on LinkedIn, Twitter and our blogs. Orange is one of the world's leading telecommunications operators with revenues of 42 billion euros in 2019 and 257 million customers worldwide at 30 September 2020. Orange is listed on the Euronext Paris (ORA) and on the New York Stock Exchange (ORAN). In December 2019, Orange presented its new "Engage 2025" strategic plan, guided by social and environmental accountability. While accelerating in growth areas, such as B-to-B services and placing data and AI at the heart of innovation, the entire Orange Group will be an attractive and responsible employer. Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005471/en/ |