While innovation has long been a hallmark of the logistics industry, five key trends are dramatically reshaping the way supply chains operate.
Some companies will embrace these changes and prosper, while others will resist and struggle. But these key trends impacting the industry right now, and nobody will be immune from their effects.
How can small and big business work together to build strong communities and profits? Small businesses form a vital part of the American economy and market. In December 2015, businesses with under 50 employees created 93,000 jobs in the US, making them an important source of post-recession job growth.
That’s not to say it’s an easy job being a small-scale entrepreneur – Bloomberg found that a staggering 80 percent of people who start businesses fail within the first 18 months. The New Orleans Chamber of Commerce is hoping to defy that trend by partnering with the Entrepreneurs’ Organization (EO) of Louisiana.
Regulatory compliance may not always be top of mind for every business owner, but increasing government regulations occurring of late can affect almost every single supply chain, regardless of industry, country or company type. As international supply chains are becoming increasingly complex, so are the regulations that govern them, especially at the global level.
When two companies collaborate with their mutual interests in mind, great things can happen. Supply chain partnerships are the focus of our latest infographic, where we examine a few case studies that a win-win collaboration between two companies has yielded to a high, beneficial impact.
UN Messenger of Peace, Leonardo Dicaprio, addresses the opening segment of the Paris Agreement signature ceremony. UN Photo/Mark Garten
In a symbolic nod to Earth Day 2016, the Paris Agreement was signed by over 170 countries during a historic ceremony at the United Nations Headquarters in New York City, four months after it was finalized at the Paris Climate Change Conference. The replacement for the Kyoto Protocol is significant, because both the US and China, which together account for over 35% of global emissions, took part of the signing.
The Paris Agreement is widely considered the most dramatic reform in climate change policy in history. The treaty seeks to avoid catastrophic climate change by limiting warming to 1.5C to 2C, resulting in near-unanimous praise from environmental groups worldwide.
The world of big pharma has been undergoing major upheaval as markets pressure companies to trim back unprofitable R&D departments. Meanwhile, the much anticipated age of biotech-led drug innovation is yet to fully materialize, leaving drug companies at the edge of a patent cliff without innovative replacements in the pipeline.
Start-ups and fledgling small businesses are facing a cash crisis in capital raising efforts. According to a report from the National Venture Capital Association and Thomson Reuters, last year saw a 10 per cent decrease in dollar commitments by VC firms, while the total number of deals dropped by 13 per cent.
For any business seeking collaboration with other companies whether they take the form of mergers, acquisitions, joint ventures or formal partnerships, these are both the best of times and the worst of times. Global regulatory agencies have recently beefed up anti-competitive measures within the B2B marketplace against deals focused on strategic collaboration.
Finding business partners traditionally has been a challenging experience. Aligning yourself strategically with the right business partner can revolutionize your organization’s offering. From leveraging knowledge sharing and resources, to expanding into new areas and product segments, finding business partners can deliver significant short and long-term value to your organization. At the same time, you can leverage your partner’s brand and assets, learn from their big data insights and support each other for sustainable growth. There are many strategic partnership benefits which we will review in this post.