Novel Solutions for Novel Times - Supply Chain Resilience

The second episode from the “Novel Solutions for Novel Times” webinar series, focusing around supply chain resilience.

Presented by:

Antony Welfare - Managing Director of Blockchain Practice @ DXC Technology

Geri Cupi - Co-founder and CEO @ MonoChain

Najib Rehman - Data Strategy Lead @ FarmaTrust

Nikhil Vadgama - Deputy Director @ UCL Centre for Blockchain Technologies

Paolo Tasca - Executive Director @ UCL Centre for Blockchain Technologies

Key Takeaways:

• Supply chains within healthcare were rapidly and massively exposed with the pandemic.

• Covid-19 has triggered conversations around organisational and supply chain resilience and the technologies to facilitate that, in order to better cope with external shocks.

• The pandemic may trigger a shift in attitudes, from globalisation to localisation.

• The luxury industry was somewhat prepared for the crisis through supply chain diversification, with manufacturing facilities in both Asia and Europe.

• Brands have proven not to be agile enough to respond to the demands arising from the crisis.

• Demand planning and forecasting are vital tools for survival, as the impact of the pandemic on consumer behaviour will last for months beyond its resolution.

• Resale marketplaces thrive during economic slowdowns, with more people monetising their closets and an increased number of users purchasing second-hand.

• The pandemic has sped up consumption trends - with increased digitalisation and a heightened focus on sustainability and localisation.

• Machine learning, AI, DLT and IoT play a significant role in creating the modern supply chain.

• A massive step forward for industries would be the transformation of supply chains into digital supply networks.

• Technologies such as Machine Learning, AI, DLT and IoT enable better communication, contractual obligation considerations, diversification and simulations to understand industry weaknesses and better prepare for them.

RBC's report on global DLT adoption in supply chains: https://retailblockchainconsortium.org/report