At the height of the COVID-19 pandemic, approximately 94% of Fortune 1.000 companies were struggling with supply chain issues. Climate change, the pandemic, the war in Ukraine and global geopolitical tensions have shown the limits of our current economic models, with a particularly severe impact on the agricultural, energy and hi-tech sectors.
Resilient supply chains have therefore become a priority and technology the enabler: where linear one-to-one connections are prone to disruption, networks of many-to-many connections allow companies to collaborate with partners along their value chain and exchange data in real time.
360-degree transparency across the entire value chain gives companies the flexibility and resilience to navigate even the most dynamic environments. They can anticipate risks and manage sourcing, trading and distribution all the way to the consumer. They can optimize inventories, match supply and demand, and identify bottlenecks before they even occur. In the event of supply chain disruptions, companies can quickly select alternative or more sustainable suppliers.
Faced with sharp fluctuations in supply and demand, dynamic purchasing behavior, and growing pressure to innovate, companies are recognizing the need to become more agile and resilient. But for many, fragmented process landscapes prevent them from reacting quickly to change. Data is often stored in silos and therefore not equally available to all decision makers.
Digitization and automation of critical end-to-end processes are not only a competitive advantage, they are critical to the survival of an organization. It's not about replacing people with technology. It's about giving people back the freedom to do what they do best: be creative. With reliable data and the help of artificial intelligence, companies are better able to keep track of what is happening in their business and why. This not only makes them more efficient, but also more flexible and faster, especially in times of crisis.
However, it is no longer enough to be resilient as a single company. This is just the first step towards a new way of doing business.
Globalization has made our supply chains more complex and, consequently, also more vulnerable. At the height of the COVID-19 pandemic, around 94% of Fortune 1.000 companies were struggling with supply chain issues . Climate change, the pandemic, the war in Ukraine and global geopolitical tensions have shown the limits of our current economic models, with a particularly severe impact on the agricultural, energy and hi-tech sectors.
Resilient supply chains have therefore become a priority and technology the enabler: where linear one-to-one connections are prone to disruption, networks of many-to-many connections allow companies to collaborate with partners along their value chain and exchange data in real time. 360-degree transparency across the entire value chain gives companies the flexibility and resilience to navigate even the most dynamic environments. They can anticipate risks and manage sourcing, trading and distribution all the way to the consumer. They can optimize inventories, match supply and demand, and identify bottlenecks before they even occur. In the event of supply chain disruptions, companies can quickly select alternative or more sustainable suppliers.
The future belongs to companies that know how to operate profitably, resiliently and sustainably with their ecosystem. And this mindset, understanding the power of ecosystems, is one of the most important prerequisites for solving global challenges.
The recent World Meteorological Organization report (WMO) shows that the last eight years have been the warmest on record. The rate of sea level rise has doubled since 1993, with the increase over the past two and a half years accounting for 10% of the total increase over the past 30 years. Furthermore, with the growing socio-political pressure and the increase of social inequalities, the importance of sustainability it's changing.
Business leaders feel urgency from all sides. Investor awareness of global challenges such as climate change, pollution and inequality has increased, as has client demand by a factor of 7 from 2021 to 2022. Employees are making career choices based on sustainability commitments their employer and track record, while governments are introducing new regulations. Sustainability, therefore, must become the guiding star of every company, an integral part of the corporate strategy.
There is no business without sustainable business, and when it comes to the planet, the connection between digital and climate is essential for solving human problems. Promoting digital solutions for energy efficiency, circularity and carbon data sharing, in collaborative networks led by industry leaders and climate coalitions, will become a powerful blueprint for future sustainable business strategy, particularly in high-risk sectors. emissions such as energy, materials and mobility.
In definitiva, collaboration and networks are at the heart of solutions to our global challenges. In a corporate network, companies can not only measure environmental, social and corporate governance (ESG) in their own company, but across the entire value chain. They record verified data based on actuals, not averages. They can report against a rapidly evolving set of ESG standards and, more importantly, can act beyond ambitious targets by incorporating sustainability into all of their business processes and value chains. This enables companies to create fair and safe workplaces, reduce waste and decarbonise the entire value chain, providing the foundation for the circular economy. At the end of the day, businesses are only as sustainable and resilient as their ecosystems.
In an increasingly fragmented world where global challenges threaten to tear us apart, technology plays a vital role in bringing us together.
Ercole Palmeri
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