Our global supply chains are stressed and under pressure, not only because of material shortfalls and shipping delays, but also due to labor shortages in key sectors. Skills shortages are now seen across all points of the supply-chain continuum, from sourcing to production, logistics, and delivery of goods and services. These gaps range from more manual tasks, such as warehouse order picking, to building and maintaining supply-chain systems. Technology is now advanced enough to fill in many of the gaps resulting from skills shortages but cannot do it alone. Rebuilding distressed supply chains will require a combination of technology and human skills development strategies.
How to Address the Supply-Chain Staffing Crisis
It’s more complicated than simply implementing new technologies.
September 18, 2023
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Summary.
Businesses are being impacted by a global skills shortage that is hampering manufacturing output and service delivery. In addition, the costs of producing materials, manufacturing goods, and providing services is rising due to labor costs. For small to medium enterprises, this means margins may be squeezed to the point to where they can no longer compete in today’s hyper-competitive global marketplace. AI, robotics, digital transactions, and related automation provide the means for SMEs to enhance and build capabilities cost-effectively.