The article further discusses the need for organizations to master their value chains, which requires a new way of organizing and working across teams. This involves sharing information and coordinating across both direct and indirect buyers and suppliers, as well as with government stakeholders. The author argues that mastering value chains can lead to a more sustainable, resilient, and secure model for managing global businesses, allowing businesses to coordinate supply and demand, accurately measure and reduce the carbon impact of individual products, and ensure that trade is both efficient and secure.
Key takeaways:
- Advances in artificial intelligence and data science can help businesses understand and master their multi-tier value chains, providing a unified view of the world's interconnected supply chains.
- Federated learning can create a dynamic, intelligent, universal map of the global supply chain using first-party intelligence from networked participants, ensuring data privacy, security and sovereignty.
- Mastering value chains requires a new way of organizing and working across teams in every business, with a shared source of truth for cross-collaboration.
- Government-compelled changes in data sharing and coordination across value chains offer a more sustainable, resilient and secure model for managing global businesses, preserving the benefits of globalization while addressing its side effects and unintended consequences.