CEO UPDATE: Innovation Is the Cure for Supply Chain Disruption
by George W. Prest, Chief Executive Officer, MHI |@mhi_ceo
Supply chain professionals are facing unprecedented challenges. COVID-19 has exposed the vulnerability of supply chains to react to global disruption and could be the event that finally forces firms, and entire industries, to rethink and transform their global supply chain to more digital, and visible, models.
Supply chain agility is now more than a buzz word, it’s a necessity. Visibility is an underlying principle to being agile, and the key to visibility is digital connectivity where functional silos are broken down and organizations are connected to their entire supply network to enable end-to-end visibility, collaboration, agility and optimization.
But where do you start?
Emerging supply chain technologies can dramatically improve real-time visibility and support your ability to quickly react when disruption occurs. Technologies that facilitate operational efficiency—such as by gathering relevant data to inform decision-making and mitigate risk—are now critical. These technologies include IIoT, artificial intelligence, robotics and automation, cloud computing and advanced analytics.
The 2020 MHI Annual Industry Report, titled “Embracing the Digital Mindset: Connecting Data, Talent and Technology in Digital Supply Chains” provides new insights into the benefits of these technologies and the leading trends driving digital supply chains and the people who run them.
This issue of MHI Solutions focuses on the adoption of these and other digital solutions from best practices, leading trends and getting your supply chain data house in order to measuring and improving your Supply Chain Digital Consciousness Index (DCI).
Supply chain innovation was on full display at MODEX 2020 as the impacts of COVID-19 created increased pressure on supply chain teams to identify, test and implement them into their operations. The MODEX event continues as MODEX 365—a virtual resource for supply chain solution sourcing, interaction and education at modexshow.com.
Another great way to stay at the forefront of these innovations is to attend the 2020 MHI Annual Conference, October 11-14 in Orlando, FL.
Attending is also a great opportunity to collaborate with solution providers while exchanging ideas with your peers on the most important issues and trends impacting our industry. See pages 71-77 for more information on this event.
I also encourage you to download the 2020 MHI Annual Industry Report at mhi.org/publications/report and use it to access and improve your Supply Chain DCI.
Whether disrupted by a pandemic event like COVID-19, an act of war or terrorism, a regulatory change, a workforce challenge or changes in supply or demand, firms that deploy digital innovation will be ready to deal with, and react to, the unexpected.
If anything positive can come from the disruptive and tragic impact of the COVID-19 virus, it’s a renewed focus on supply chain technology and innovation and its role in delivering essential products and supplies to the end consumer.
I hope this issue of MHI Solutions finds you safe and healthy, and that it helps provide the information and resources you need to assist you on this journey.