Wal-Mart takes smart supply chain action
Another supermarket supply chain is under public scrutiny this week following the announcement to implement stricter rules regarding supplier management. Wal-Mart’s zero tolerance approach comes after a deadly fire killed 112 workers in an unauthorized factory. The retail giant seeks to improve global supply chain safety standards through improving collaboration amongst stakeholders and forcing suppliers to adhere to stricter regulation. However the global super market chain’s efforts have been criticized as Wal-Mart refused to support an agreement which would make the chain more responsible for supplier actions.
To read the full article, click here
Climate change heats up operations concern
In recent years, the topic of climate changes has become an increasingly hot topic in the media. The issue again made the news this week as new research reveals how businesses perceive the severity of climate change. According to the report featured in the Supply Chain Standard, 73% of businesses now believe climate change poses a physical risk to their operations. Furthermore, nearly 70% of businesses envisage climate change having a negative impact on revenues, while 51% also predict extreme weather to have a major impact on their operations within the next 5 years.
To read the full story click here
Supply Chain Barriers holding back global GDP
The World Bank has released a new report which finds that an up to 4.7% increase in global GDP can be reached by reducing supply chain barriers. Improvements in the fields of border administration and telecommunications infrastructure represent a couple key areas that could contribute to this increase. The report states that even a partial step toward supply chain barrier reduction to meet global best practice by all countries would have a positive impact on global GDP.
The full story can be read here.