Strategies for Rewiring Global Value Chains

Amidst global upheavals such as geopolitical conflicts, technological shifts, and the climate crisis, manufacturers are rethinking their supply chain strategies to enhance flexibility, resilience, and sustainability. A Kearney and World Economic Forum survey of over 300 executives reveals a trend towards locally integrated, globally connected value chains. Leading firms are prioritizing adaptability, employing advanced technologies like AI for efficiency, focusing on skill development, embracing sustainable practices over cost-cutting, and tuning their operations to customer value. Despite recognizing the necessity of these shifts, many companies still struggle to implement them effectively, highlighting the gap between strategy and execution. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: Industry Today