Question

What is the current Supply Chain issues to be solved?

(please explain long)

Answer 1

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In the process of the supply chain, these issues needed to be solved:

1. Managing liquidity and net working capital in the current supply chain process will be a solution to many problems because it is the need of an hour. Every industry is running out of resources, and managing its resources is the solution in the supply chain issue.

2. Moving from paper to digitalization: this is another solution to supply chain issues. Trade is entirely on paper-based, and companies are yet to digitize their supply chain processes. To protect from Covid-19, it is not possible to be dependant on paper-based processes, and digitalization of the process will help solve the supply chain issue, not only in terms of cost but also to primarily have visibility and manage supply chain risks.

3. Start early, do not delay: Supply chain initiatives indeed takes time to start and reach to the customers. To make this beneficial, start early, and an effective way is to execute supply chain finance programs to help suppliers in financial crises. Starting early supplies will create a more effective and efficient value chain.