The global supply chain refers to the worldwide network businesses use to produce goods and services to meet the demand of local and overseas customers. This complex web is subjected to frequent disruptions and changes following precedented and unprecedented challenges, like the pandemic of 2020, for instance. Companies working closely with a global supply chain network couldn’t agree more – the issues are real and more intricate than handling a linear supply chain close to one’s location.
Global supply chain examples: food and beverage, mining, oil and gas, electronics, consumer goods, and textile are a few sectors that thrive with a global network of supply chains.
Current supply chain challenges faced by organizations:
Having a more comprehensive network of suppliers and distributors can benefit businesses in various ways. One of them is the privilege of spreading the risk and immune your enterprise from plausible disruptions, which are primarily unprecedented in nature, like natural disasters.
Other advantages of working with a worldwide network include:
Many businesses have ramped up their investments in AI solutions to override the current crisis and transform the value chain. For instance, TradeEdge Network, a proven multi-enterprise, over-the-top platform by EdgeVerve, connects businesses for enhanced visibility and resilience for their product, services, and information needs.
Benefits of leveraging TradeEdge Network:
Connecting businesses beyond their direct customers and suppliers to fill demand-supply gaps in real-time to maximize fulfillment