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The World Trade Organization publishes lots of insightful data on global trade – including trade indexes. The third trend is that global trade growth appears to be gradually slowing. Output rose in 8 of the 29 nations for which data was available. I see that as a positive. I don’t see that as a positive.
Here are some data that support my view. However, GEP And S&P Global publish the GEP Global Supply Chain Volatility Index based on data derived from S&P Global’s PMI surveys. The rapid changes can be concerning but looking at data over the last 5 to 7 years shows that we are reverting back to “normal” patterns.
However, many issues limited the potential of supply chain and procurement practices to source effectively: Lack of visibility to key data such as supplier risk and performance, forward pricing, market index impacts, demand fluctuations, available supply, and supply constraints in the market. 2] ibid.
As global supply chains become more complex and customers more demanding, the race is on to develop software applications that can effectively manage and make sense of the zettabytes of data being generated by our digital world. Of course, capturing the data and then using it to make good decisions are two entirely different things.
And for procurement and supply chain leaders looking to harness the power of technology to navigate complex challenges and an uncertain business environment, keeping up with the latest trends can be its own obstacle. So, what’s on the technological horizon for procurement and supply chain for the year ahead?
In "How to Avoid the Pitfalls of Contract Management in Telecom and High-Tech," GEP experts outline a four-pronged approach to getting contract management under control once and for all.
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