The supply chain of the future was on full display at the Oracle Cloud SCM Virtual Summit this year, where thought leaders painted a broad vision of how businesses are adapting to recent disruptions and laying the foundation for continuous innovation.
"The pandemic has not just uncovered new supply chain issues, but it's exacerbated problems that already existed before," says Richard Jewell, SVP. "And we're still seeing the effects across regions, with disruptions that occurred nine months to a year ago taking shape just now, with resulting shortages."
Among the many responses to the pandemic, people are now rethinking ways they can better serve their customers with the products they have, expand their offerings to enlarge their customer base, and wrap new services around their products.
To increase business agility, more companies are setting up manufacturing facilities and distribution centers in the countries at the point of demand, and at the point of sales. And they're not just picking up their old way of a manufacturing something and putting it down in a new facility. But they're reimagining the method and means by which they manufacture the product.
In many cases that means using emerging technologies, including IoT, artificial intelligence, machine learning, preventive maintenance -- and increasingly robotics. "Companies are looking to build things in a much more automated way," Richard says