C-Suite Insights 1st December 2021

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Digital Traceability: A Framework for More Sustainable and Resilient Value Chains

 

World Economic Forum

 

Traceability gives companies the ability to follow products and goods as they move along the value chain and to glean exact information about the provenance of inputs, supplier sourcing practices, and conversion processes.

 

Firms that do not invest in traceability will be more vulnerable to supply chain disruptions and allegations about product safety or provenance.

 

The World Economic Forum’s white paper on the subject is based on research with 150 senior supply chain leaders. It shows that 68% of executives view traceability as ‘very or extremely important.’ But many leadership teams have found implementation to be difficult and complex, with an overwhelming multitude of technology options and application areas to evaluate. The five key components of a successful traceability strategy are:

  1. An internal operating model adapted to cross-functional strategies
  2. A partner ecosystem
  3. An integrated data strategy
  4. Robust technology architecture
  5. Alignment on standards and certifications.

The two biggest implementation mistakes that firms make are:

  1. Focusing on one or two of these elements and overlook how interconnected they are
  2. Delaying planning how to scale up pilot schemes

 

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​​​​FURTHER INSIGHTS


 

Insights into the cybersecurity challenges of hybrid workplaces
 

HP
 

The shift to hybrid work means that employees working from home are procuring their own devices and installing unapproved software that is invisible to employers.

This report outlines how user behaviour is changing and highlights that threat levels are rising, with attackers increasingly being successful at bypassing security defences. Key findings include:

  1. Pandemic-driven shadow IT is on the rise
  2. More employees are falling for phishing and other social engineering techniques
  3. IT teams are having to rebuild more systems in the pandemic
  4. Remote work has made IT support more time-consuming
  5. Remote work has increased the costs of IT security
  6. IT teams feel over-stretched by the challenges created by remote work

 

 

The value of getting personalisation right

McKinsey & Company


According to this Next in Personalisation 2021 Report, businesses who demonstrate strong levels of personalisation and customer intimacy generate greater returns. For example, these types of companies generate 40% more revenue than their slower-growing counterparts.
 

Findings also suggest that consumers have a strong opinion on personalisation and largely associate it with positive experiences.
 

Learn more>>


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