Supply chain Archives

The Hidden Cost of Disruptive Events: Managing Risks and Ensuring Supply Chain Resilience

on May 28, 2023

Maintaining business continuity requires managing threats and the risk of business disruption. Disruptive events can stem from financial, operational, cyber, ESG, natural disasters, and supply chain disruptions.
Predicting disruptive events can be challenging, especially when referring to unknown risks that can arise suddenly.
Organisations can reduce risk exposure and even eliminate the impact of a particular type of risk event through careful planning, the use of tools, and the adoption of effective risk management processes.

Reading time: 3 min

Why ESG is important for procurement and supply chain future

on January 19, 2023

Environmental, social, and governance (ESG) is currently a contentious issue for both employers and employees. ESG reporting is both a moral requirement and a wise commercial decision. Particularly Gen Z and Millennial workers are aware of ESG issues and how they impact both existing and future workplaces. It is crucial to comprehend the highest degree of ESG, supply chain ESG, and the reasons why ESG is important for procurement and supply chain future.

Reading time: 4 minutes

Supply chain and social responsibility

on November 27, 2021

Sustainability is one of the defining issues of our age. Companies are overhauling the way they source, create and distribute products to achieve and promote supply chain and social responsibility.

Sustainability affects everything a company does, including how it works with its suppliers. But too many supply chain managers employ a “take-make-waste” mentality. As a result, supply chains around the globe remain fraught with inefficiencies due to wasteful use of assets. But there’s a solution at our fingertips: blockchain.

Blockchain can transition supply chain management to a sharing economy where people and companies reduce waste and decouple growth from the consumption of finite resources — thus becoming more sustainable and profitable at the same time.

Reading time: 4 minutes.

Building the ethical and sustainable supply chain of the future

on September 27, 2021

We’re stepping into the next stage in consumer-business relationships. As consumer awareness of environmentally friendly practices increases, companies need to enact significant changes towards building the ethical and sustainable supply chain of the future. One that ensures sustainable sourcing, manufacturing and product distribution.

In this article we explore 6 concrete steps to make your supply chain more ethical and sustainable.

Trakti automating control with blockchain Photo by Maximalfocus on Unsplash

Automating controls and compliance with blockchain

on July 28, 2021

Automating controls and compliance with blockchain is the next step in the digital transformation of companies of all sizes and types. Blockchain technology can create greater efficiency than we’ve ever known, while reducing delays, costs and errors.

Reading time: 3 minutes. Photo by Maximalfocus on Unsplash.

Friction points smart contracts can solve

on June 30, 2021

The application of smart contracts can streamline transactions across the globe. Friction points smart contracts can solve begin with the automation of trust between parties. This is blockchain’s primary purpose.

Smart contracts can reduce the operational friction required to validate ownership, identity and contractual terms by allowing participants to interact directly with one another with no middlemen providing verification.

Reading time: 5 minutes. Photo by Ehimetalor Akhere Unuabona on Unsplash.

Smart Legal Contracts for Managing Supply Chain Ecosystems Efficiently

on June 11, 2021

More and more enterprises are turning to smart legal contracts for managing supply chain ecosystems efficiently. Smart legal contracts can provide secure, accessible digital versions to all parties in a single transaction. In addition, they can also manage the workflow of approvals and automatically transfer upon all signatures being collected.

Reading time: 4 minutes. Photo by Sigmund on Unsplash

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