How to Safely Localize Your Supply Chain
Article by Supply & Demand Chain Executive
There is no doubt that COVID-19 has upended global supply chains, with companies turning to new in-country vendors who can provide critical resources. There is also growing evidence that the impact may be long lasting. Research shows that 7 out of 10 of C-suite leaders believe supply chains will become increasingly local, not global.
In an article authored for Supply & Demand Chain Executive, apexanalytix SVP Danny Thompson provides actionable steps business can take to transition to local suppliers, without introducing new fraud, compliance and security risks.
The most critical step, he says, is to automate your onboarding processes.
“Investments in automation pay off in both the long term and short term, and provide myriad benefits for distributed teams, such as increased accuracy across all supplier data and the elimination of duplicate accounts,” Thompson says.