1.4 billion tons wasted through supply chains

The new UN Global Food Losses and Food Waste report has revealed that an annual 1.4 billion tons in consumables are wasted throughout the supply chain – from the fields to the consumer. These figures demonstrate the potential profit companies are throwing away due to inefficiencies in the supply chain. Poor demand forecasting and market anticipation may be the key factor in leaking supply chains.

Supply chains are becoming more complex with increased globalization. The unpredictability of demand in a volatile economic climate seems to be the main driver of this complexity. Out-sourcing has also lead to more lead time and higher cost, increasing the risk of wastage and loss of profit.

Economic up turns continue to drive demand for goods across sectors, and many organizations are feeling the strains of trying to meet the requirements. However, supply chain process optimization, consolidation and technology investments are proving to be viable solutions. More needs to be done to combat issues of wastage, long lead times, supplier management, cost reduction, environmental conservation and risk mitigation.

The Supply Chain and Logistics Africa Summit taking place on the 17 – 20 of October at the Sandton Sun in Johannesburg will be a forum that will give organizations the necessary strategies, tools and solutions in demand forecasting. It will examine strategic demand forecasting, data analysis, planning techniques, tools and technologies. Professionals will hear from a vast knowledge pool of supply chain and logistics experts across various industries and sectors, which will be invaluable for all professionals and decision makers in this area of focus.