Reshaping supply chains: Leading to more sustainable business models

Abstract

The COVID-19 pandemic’s widespread impact highlighted the importance of supply chain performance as a fundamental indicator for business continuity, as it was imperative to mitigate multilayered risks with financial and reputational impact for corporates. Transformation of supply chains requires a vertical and horizontal integration across the business with the involvement of all internal and external stakeholders, demand generators, policy and decision makers, and budget holders. Acting as the ‘glue’ among the company’s functions providing accuracy, visibility and transparency, it can generate and deliver long-term commercial benefits. Digitalisation plays a critical role within the post-pandemic era, supporting risk mitigation, visibility, real-time tracking and supply chain performance. Open and honest relationships, building trustworthy environments for both employees and suppliers, can support sustainable business continuity. Additionally, business can reap considerable quantitative and qualitative benefits from the structured supplier relationship management models. This paper analyses the areas where this transformation will materialise and its expected outcome, acknowledging challenging factors as part of this process.