Where are supply chains going today? I had a chance to hear some interesting perspectives on this question at a recent Oracle Live event, where I attended a session that looked at pivoting your SCM operations to growth. In light of recent events, this was a timely discussion, to say the least.

At the risk of stating the obvious, the last six months have been a trying and challenging time for everybody, and especially product companies – those organizations that run supply chains and manufacturing plants. The crisis has been a sea change for them, and they find themselves now at a crossroads.

These days conversations have changed – not only around the dinner table but inside of corporate board rooms. We see newfound respect for supply chains and the people and systems that support them. I think it's safe to say that probably 99% of people around the world now know the word "supply chain."

In reality, supply chains have been under pressure for some time. Years ago, companies used to build their supply chains to fit a global economy that was predictable, sustainable, and stable. But those conditions no longer exist – and it's not just due to the pandemic. Geopolitical and market forces have also been at work, steadily eroding the foundations of the old predictable order.