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.