Transforming supply chain management with open standards

By Francis Beland, Executive Director, OASIS Open

This article in the Financial Times reports on supply chain integrity, risk management, operational intelligence, and supply chain security challenges. These are major issues requiring strong and widely adopted open standards in today’s fast-paced and interconnected business environment.

Supply Chain Integrity: Maintaining the integrity of the supply chain is a challenge for many organizations as it involves ensuring that all stakeholders in the supply chain act ethically and responsibly. This includes ensuring that suppliers adhere to labor laws, environmental regulations, and ethical business practices.

Risk Management: Supply chain risk management is the process of identifying, assessing, and mitigating potential risks in the supply chain. This can include risks related to suppliers, logistics, and regulatory compliance.

Operational Intelligence: Supply chain operational intelligence refers to the use of data and analytics to improve decision-making and enhance supply chain performance. This requires organizations to have access to real-time data, advanced analytics capabilities, and the ability to quickly respond to changes in the supply chain.

Supply Chain Security: Supply chain security is a critical challenge for organizations as it involves protecting the flow of goods, information, and resources from theft, damage, and other security threats. This requires organizations to implement robust security measures and to have contingency plans in place to respond to security incidents.

Overall, addressing these challenges requires organizations to have a strong understanding of their supply chain, as well as the ability to monitor and respond to changes in real-time. This can be achieved through open standards and with the support of advanced technologies, such as artificial intelligence, blockchain, and the Internet of Things.