From Generative AI to sustainability, how stakeholders can navigate supply chain disruptions in 2024

From Generative AI to sustainability, how stakeholders can navigate supply chain disruptions in 2024

Investors are calling for the removal of Byju Raveendran, but he is refusing to quit. This dispute is shaping the future of Indian ed-tech. Paytm's stock has dropped due to regulatory action from the Reserve Bank of India. The use of AI is helping e-commerce companies navigate the challenge of delivering to customers' homes. Harley-Davidson's focus on affordability in India reflects past lessons, while logistics companies are expected to benefit from higher GDP growth.

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Frequently Asked Questions

From Generative AI to sustainability, how stakeholders can navigate supply chain disruptions in 2024 - The Economic Times

Q: What are supply chain disruptions and why are they significant in 2024?

A: Supply chain disruptions refer to unexpected events that interrupt the normal flow of goods and services in the supply chain. They are significant in 2024 due to the evolving challenges in global trade, potentially due to economic factors, rapid technological changes, environmental considerations, and geopolitical tensions. Managing these disruptions is critical for maintaining business continuity and achieving sustainability goals.

Q: How can generative AI help in navigating supply chain disruptions in 2024?

A: Generative AI can assist in navigating supply chain disruptions by identifying and simulating potential disruptions and their impacts on the supply chain. It can also aid in creating robust contingency plans, optimizing logistics, and improving forecasting accuracy, ensuring stakeholders can better prepare for and respond to challenges. For more detailed insights from the Economic Times, please refer to the article titled "From Generative AI to sustainability, how stakeholders can navigate supply chain disruptions in 2024" (Economic Times Article).

Q: What is the role of sustainability in supply chain management in 2024?

A: Sustainability plays a crucial role in supply chain management by ensuring that operations are environmentally friendly, socially responsible, and economically viable in the long term. Active measures include using renewable energy sources, reducing waste, optimizing resource utilization, and promoting ethical labor practices. These measures not only contribute to the health of the planet and society but also can reduce costs and increase consumer trust and loyalty.

Q: Can you explain the connection between generative AI and sustainability in supply chains?

A: Generative AI and sustainability are interconnected in supply chains because AI can be employed to optimize resource use, improve energy efficiency, and reduce waste, all of which contribute to sustainability goals. AI algorithms can predict demand more accurately, which helps in minimizing overproduction and the carbon footprint associated with it. AI-driven analytics can also enhance the design and execution of greener supply chain practices.

Q: What financial strategies are suggested for addressing supply chain disruptions post-COP28?

A: While specific financial strategies post-COP28 are not detailed in the given search results, it can be assumed that stakeholders are encouraged to invest in sustainable technologies, incorporate environmental risk assessments into financial planning, and seek out green financing options. Financial planning in the context of supply chain management may also involve budgeting for contingency measures and investing in technologies like generative AI to ensure business resilience. To keep up with the latest updates, follow the Economic Times on Twitter (@EconomicTimes).

Q: Where can I find more information on the economic potential of generative AI?

A: For an in-depth look at the economic potential of generative AI, including its impact on productivity and value addition to the global economy, you can read McKinsey's insights on the subject titled "Economic potential of generative AI" (McKinsey Insights).

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