In today's world, where things can change in an instant, it's crucial for businesses to have a resilient supply chain. Effective collaboration is a key part of building resilience. It helps companies communicate better, share risks and work together to innovate. But collaboration isn't enough on its own. Integrating AI and other tools can really boost its benefits. AI tools can analyse lots of data, predict potential disruptions and optimise decision-making processes, which makes collaboration in supply chains more effective. Learn how #NARRATE can make supply chains more adaptable, efficient and capable of thriving in uncertain times. European Health and Digital Executive Agency (HaDEA) AIDIMME. Instituto Tecnológico #supplychain #AI #resilience #innovation
🤝 𝗖𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻 𝗶𝘀 𝗞𝗲𝘆 𝗳𝗼𝗿 𝗦𝘂𝗽𝗽𝗹𝘆 𝗖𝗵𝗮𝗶𝗻 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 🤝 🌍 Businesses are increasingly recognising the value of strong supplier collaboration. According to an insightful article from Sustainability Magazine, fostering close relationships with suppliers can significantly enhance supply chain sustainability. Here are some key benefits of supplier collaboration: 1️⃣ 𝙄𝙢𝙥𝙧𝙤𝙫𝙚𝙙 𝙀𝙛𝙛𝙞𝙘𝙞𝙚𝙣𝙘𝙮 𝙖𝙣𝙙 𝘾𝙤𝙨𝙩 𝙍𝙚𝙙𝙪𝙘𝙩𝙞𝙤𝙣: Collaborative planning and forecasting enhance inventory management, reduce excess stock, and lower transportation and warehousing costs. 2️⃣ 𝙀𝙣𝙝𝙖𝙣𝙘𝙚𝙙 𝙄𝙣𝙣𝙤𝙫𝙖𝙩𝙞𝙤𝙣: Joint efforts in research and development accelerate innovation, bringing new products to market faster and sharing technological advancements to maintain competitiveness. 3️⃣ 𝙍𝙞𝙨𝙠 𝙈𝙖𝙣𝙖𝙜𝙚𝙢𝙚𝙣𝙩: Collaborating on risk management identifies and mitigates supply chain disruptions, with joint contingency planning and diversified sourcing reducing geopolitical and environmental risks. 4️⃣ 𝙌𝙪𝙖𝙡𝙞𝙩𝙮 𝙄𝙢𝙥𝙧𝙤𝙫𝙚𝙢𝙚𝙣𝙩: Ongoing communication and feedback between partners lead to better product quality and consistency. NARRATE embraces collaboration, paving the way for a more sustainable and resilient supply chain. 🌟 Read the full article from Sustainability Magazine to dive deeper into this topic: https://lnkd.in/dcpnKAFm 🌱🚀 Let's work together for a greener future! 🚀🌱 #NARRATE #SupplyChain #Sustainability #SupplierCollaboration European Health and Digital Executive Agency (HaDEA)