Michael UngarCEO of the Industry 4.0 Club

Supply Chain Risk: See How To Mitigate It!

20 Dec 2024 · 1 min

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1:14

The speaker explains how supply‑chain visibility has dramatically improved from a decade‑old “black‑box” situation—where goods in transit were untrackable—to today’s sophisticated platforms that connect manufacturers with carriers across first, middle, and last‑mile stages. These platforms provide real‑time location data for both finished products and raw materials, enabling better planning against forecasts. The talk also highlights the growing role of machine‑learning and predictive technologies that model various scenarios and assess complex, evolving risk landscapes, helping companies anticipate and mitigate supply‑chain disruptions.

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In the past, there was no visibility. 15, 20 years ago, goods would leave a manufacturing plant on a truck to go to a distribution center, and nobody had visibility until it arrived. Or goods were put on a ship coming over from Asia to North America, and once it was in transit, nobody had visibility. Nobody had visibility at the port as to where goods were. It was like a big giant black box. So there are some fantastic platforms out there now that are linking manufacturers with their carriers, whether it's first mile, middle mile, last mile, that they're able to truly see where goods are in transit. That's huge. Obviously, not just for finished goods, but for raw materials. Where is everything? How do I plan for it so that I can manufacture to my forecast? But also there's a lot more use of machine learning and predictive technology to be able to understand different scenarios and different risks. I think that the risk environment is— the landscape is so much more complex