Chains to networks marks the changing shape of supply
The global supply chain is undergoing a transformation, driven by the pandemic and geopolitical instability. The concept of a linear chain is being replaced by a network of companies and locations. Sustainability, visibility, and resilience are becoming the new standards for supply chain excellence. Building a trusted and secure supply network is crucial, with cybersecurity being paramount. Modern supply chains are becoming more network-based, requiring a mindset change among vendors. Trust among supply chain actors is essential for the success of these networks. The future of supply chain will involve trust-based networks and the sharing of information.
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Frequently Asked Questions
1. What is the concept of supply chain management?
Supply chain management refers to the handling of the entire production flow of a good or service to maximize quality, delivery, customer experience, and efficiency. [Source: IBM](https://www.ibm.com/topics/supply-chain-management)
2. How can supply chains become more resilient without sacrificing competitiveness?
One way to make supply chains more resilient is by mapping the full extent of the supply network to identify both direct and indirect links. This helps in identifying potential vulnerabilities and finding ways to mitigate risks. [Source: Harvard Business Review](https://hbr.org/2020/09/global-supply-chains-in-a-post-pandemic-world)
3. How can supply chain networks be reimagined and operated to positively impact business and society?
Accenture offers services and solutions to help clients reimagine, build, and operate supply chain networks that orchestrate change, simplify life, and have a positive impact on business, society, and the planet. [Source: Accenture](https://www.accenture.com/us-en/services/supply-chain-management-and-operations-index)
4. What is Supply Chain 4.0 and how can it benefit organizations?
Supply Chain 4.0 represents the next generation of digital supply chains that enable organizations to be faster, more flexible, more accurate, and more efficient. It utilizes advanced technologies like artificial intelligence, automation, and data analytics to optimize supply chain operations. [Source: McKinsey](https://www.mckinsey.com/capabilities/operations/our-insights/supply-chain-40--the-next-generation-digital-supply-chain)
5. How are trade and value chains evolving in the context of globalization?
Trade and value chains continue to evolve as global supply networks change. While production networks are not static, experts predict that mass production will not be replaced entirely. [Source: McKinsey](https://www.mckinsey.com/featured-insights/innovation-and-growth/globalization-in-transition-the-future-of-trade-and-value-chains)
These questions and answers provide a glimpse into the changing shape of supply chains and the importance of supply chain management in the current business environment. For more detailed information, consider referring to the provided sources.