In the last decade, the global supply chain has experienced a wide range of disruptions including labor shortages, supply chain interruptions, and rising inflation. Other factors include a shortage of skilled workers, rising cost of labor, trade conflicts, weather events, and cyber attacks.
Today’s high levels of disruption can be a recipe for loss unless organizations take steps to mitigate its effects. But how?
McKinsey says…
“We are at an inflection point in which companies who embrace digitalization report a stronger ability to respond to crises.”
Many organizations are better able to handle disruptions because they have adopted the digital capabilities that are key to Industry 4.0 and have prioritized human capital which is the hallmark of Industry 5.0
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