Supply Chain Blind Spots That You Might Be Missing

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Supply Chain Blind Spots That You Might Be Missing
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About Cozentus Technologies

• Cozentus is a complete business solutions
  provider transforming operational productivity
  and efficiency of businesses across Supply Chain
  Management and Financial Services.
• Operating globally, we bring you the best
  domain-specific expertise combined with digital
  transformation capabilities so your business can
  thrive in todays connected world. Our long-term
  partnerships and valued relationships provide the
  basis for fluid collaboration and an innovative
  solutions-orientated approach.

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Supply Chain Blind Spots That You Might Be Missing

• Every supply chain participant is experiencing
  unprecedented degrees of connection. Brands are
  more global and influential than ever before.
  More suppliers are being linked to more
  downstream partners in ways that we could not
  have predicted even a decade ago. Third-party
  logistics providers (3PLs) are increasingly
  important in storage and fulfillment. Through the
  rise of B2B eCommerce, even distributors are
  breaking the pattern.
• Working with additional trade partners entails
  managing more channels via which information must
  be sent, received, and tracked. And since this
  shift is occurring so fast with interwoven
  systems that are growing more complicated over
  time, it's causing supply chain "blind spots."

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The Possibility Of Supply Chain Obscurity

• Lack of supply chain awareness not only has
  immediate and indirect financial effects, but it
  also undermines the company's ethics. Reputations
  are on the line. And, in an era when a company's
  reputation may make or break your market growth,
  your whole business is at risk.
• In the 'fast-fashion' sector, there is a
  persistent ethical concern with supply chains.
  The name gives the game away. These organizations
  must be quick to market, and as a result, they
  lose sight of their suppliers. According to Julie
  Niederhoff, associate professor of supply chain
  management at Syracuse University's Whitman
  Business School, "there's a trade-off between
  complete visibility and the slower speed of
  getting people on board."

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Global Executives Back For A "Culture Of
Openness."

• A research, commissioned by Harvard Business
  Review Analytic Services (HBRAS), discovered that
  worldwide executives feel a culture of openness
  is crucial as organizations strive to exhibit
  more ethical practices.
• It is not only considered significant, but the
  survey also discovers that the most successful
  organizations are almost twice as likely to be
  adept at assessing suppliers. Visibility into the
  movement of money, commodities, and services is a
  distinguishing feature of successful companies.
  This implies that corporations must accept
  responsibility not just for the quality of their
  products and services, but also for how they are
  created.

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The Cost Of Supply Chain Transparency

• Another problem is that customers are unwilling
  to pay more for the goods, thus merchants must
  increase their ethical standards while
  maintaining a steady final price for consumers.
  According to Drapers' Sustainability Survey,
  which was released in June 2019, 60 of retailers
  that replied claimed the primary hurdle to
  becoming more sustainable was that it raises
  prices. However, there is mounting evidence that
  customers are prepared to pay a premium for items
  supplied responsibly.
• Despite the significance put on ethical concerns,
  the most popular reasons for assessing suppliers
  continue to be economic. Sixty percent of
  respondents choose "value for money," while 54
  percent prioritize "cost reductions."

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Conclusion

• COZENTUS recommends the following steps to
  mitigate and remain resilient in the event of a
  successful exploit in your environment
• Recommendations from Cozentus
• Maintain an inventory of information system
  components.
• Determine your key data and establish a baseline
  for how that data moves across processes or
  systems.
• Deploy artificial intelligence and machine
  learning analytics to discover irregularities in
  data flows that may be early signs of a danger.
• To separate distinct sections of the
  organization, use simple network segmentation.

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Contact Us
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Contact Details
Odisha 3rd Floor, Infinia Tower, Infocity,
Bhubaneswar751024, Odisha, India
Contact No 91 977 712 6600 (India) Email
supplychain_at_cozentus.com Website
https//www.cozentus.com/