Key Takeaways from the Supply Chain Innovators Summit 2023
How Digitization Helps Building Supply Chain Resilience In An Unstable World
It’s a little over three years since a global pandemic tipped supply chains into turmoil. From lockdowns to bullwhips, spiraling inflation to a cost-of-living crisis disruption has been coming in waves, leaving many of us wondering what fresh challenges might be around the corner.
On June 1st 2023, experts from Tradeshift and our partners Quyntess joined special guests from Adyen, Project44 and TransExecutive in Rotterdam to discuss the vital role that technology will play in helping businesses embed resilience and agility into their supply chains.
“Traditionally, supply chains have been built on the premise of stability,” said Rob van Ipenburg, Co-Founder and Managing Partner Quyntess. “What we’re seeing now is a far bigger emphasis on embracing change and factoring this into their strategic planning.”
Tradeshift’s latest Index of Global Trade Health suggests supply chains are still feeling the impact of a pandemic-induced bullwhip cycle. And while the current wave of disruption might be dissipating, normal remains a pretty broad spectrum for businesses attempting to find their footing.
“Building resilience means looking at supply chains as a whole.” said Stephen Cleminson, Regional Director of Alliances, Tradeshift. “We’ve seen pressure mounting on both the buyer and the supplier side of the supply chain. CEOs and CFOs are recognizing the need to eliminate blind spots. The only way to do this is by taking a far more holsitic approach to digitization across their supplier base.”
A packed house of finance and procurement leaders from across Europe agreed that the only way to build resilience to future shocks was to digitize with a particular focus on automation of manual processes. They acknowledged however that such investments would require robust strategies to manage change.
“Transformation is akin to redecorating the shop while it’s still open for business,” said Harold Hendrickx, Founder and Managing Director, TransExecutive. “Success requires a well balanced and enabled team that will have the right mindset, ownership, team spirit and drive to achieve the transformation.”
A big thank you to our speakers whose insights provided the catalyst for a lively set of discussions on everything from supplier diversification, ESG monitoring and the role of generative AI in the supply chain.
Special thanks must also go to the fantastic delegates who made it such a special event. And for those of us who weren’t able to attend this time, stayed tuned to our channels and follow us on LinkedIn for information on future events.
