Over the past few years, global supply chains have experienced unprecedented volatility, embattled by an ongoing pandemic, geo-political crisis, operational disruptions, and legacy models. The agility and robustness of supply chains have unavoidably skyrocketed to the top of the C-Suite minds.
Trust is critical in ensuring improved supply chain resiliency and business continuity. Trust in supply chain data. Trust in the transparency of all stakeholders. Trust in an organization’s ability to trace supply chain performance—and make more appropriate decisions to future-proof supply chain dynamics.
According to the Observer Research Foundation, the “contours of global supply chains will be shaped by the evolving understanding of ‘trust.’” In the overall supply chain conversation, the notion of trust is leading to dominant paradigm shifts in economic and political spheres. In addition to transactional and collaborative trust, building trusted supply chains now also hinges on technology trust—or the necessity of leveraging reliable modern solutions to increase data accuracy, visibility and timeliness.