Six ways to Improve Global Supply Chains

In a fast-paced global economy, it’s important to keep your supply chain running as
efficiently as possible. Following are the ways to improve your organization’s efficiency and
succeed in the global supply chain.

1. Easing transportation jams

Dramatic increase in container freight rates, off-shoring rose in costs, orders
sometimes took months to fill. For these reasons, experts have called for digital
tracking that eases logistical delays. Identify logjams and allow firms to take action
that eases delivery problems.

2. Prioritizing public health

Shortage or not having access to critical ingredients or active drug ingredients made
manufacturing process impossible and it is difficult to produce needed products. Such
as personal protective equipment, medical supplies, pharmaceuticals, and electric
vehicle batteries, among others. To mitigate these problem, improve the public health
infrastructure. Otherwise it will be difficult to resolve supply chain disruptions as long
as major public health challenges roil the workforce

3. Managing labor shortage

Labor shortage and economic shocks have roiled supply chains and generated delays,
cost increases, and a range of logistical challenges. As a result, inflation has returned
as an economic problem, and there are complications linked to underlying shifts in the
workforce A McKinsey report recommends that public and private sector leaders
invest in digital infrastructure to make it easier for workers to access broadband,
perform their tasks, operate remotely, and deal with pandemics, automation, and
demographic shifts.

4. Digitization
Trade needs to move away from paper documentation into digital record keeping.
This involves bringing accurate data and processes together under one unified
platform to provide end to end visibility. It also reduce costs and accelerate
innovation. Digital supply chain management makes easier to plan and manage all
supply chain workflows

5. Optimize company-owned inventory

Check the quantity of the company-owned inventory. Keep exactly what you need;
nothing more than that.

6. Make a supply chain council

The council’s aim is to give directions and align the supply chain strategy with the
company’s core goals. The council helps in removing barriers within the organization.
It also improves the business’s cross-functional communication

7. Mitigating geopolitical tensions

The geopolitical situation has grown more complex it is difficult to maintain open
supply chains as long as geopolitical conflict intensifies and economic and security
risks are high. By building partnerships, engaging in diplomacy, and having realistic
 expectations about what is possible, they believe the two countries can maintain a
fruitful relationship that can stabilize global trade, manufacturing, and distribution

8. Improve your visibility.

With full supply chain visibility, you’ll be able to track all of your products and
shipments at all times. This requires the different parts of your supply chain to work
together to prevent confusion. Supply chain visibility also helps you prevent delayed
or incorrect orders.

9. Build Healthy Supplier Relationships

Cultivate and maintain the supplier relationships on an ongoing basis, even after the
deals are finalized. Focus on forming strategies to maintain healthy supplier
relationships. Make goals for continuing value, measuring performance and
maintaining conflict resolution

10. Establish Green Initiatives

Minimize the carbon footprint of your supply chain. In fact, supply chain and logistics
must become sustainable and socially responsible.