Visibility is increasingly vital in the supply chain, but even more so when there is a risk of disruption or during a recovery. Visibility allows those within the supply chain to get ahead of an interruption, potentially mitigating problems before they occur. It also enables a rapid response and correction to keep operations moving when issues do arise.
A group of Penske Logistics associates recently attended the Blockchain Supply Chain Summit in the Schreiber Center at Loyola University in Chicago. This year’s summit attendees included representatives from the business, academic, tech and consulting communities. Penske gave the leadoff presentation at the conference, titled Blockchain Empowered Interoperability: A Single Efficient Tech Ecosystem.
The prominence of supply chain management in the boardroom continues to grow, and there are some great reasons. Let’s start with the relentless corporate quest for year-over-year cost reductions. Then there is the competitive opportunity side, where supply chain agility enables a business to gain an advantage over others in their industry. Finally there is the risk management side of the equation, where the mitigation of potential supply chain disruption is a top priority.