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Usually when people read about chaos, there's a negative tilt attached.
Chaos is BAD, things descend into chaos, it's unpredictable and scary.
And then... *crickets*
What we don't hear is that out of this chaos, a new order is born.
An order driven by innovation...
Not instantly. Perhaps not even drastically. But they always do 👇
Long-time readers will recall us repeatedly mentioning this issue, and this report confirms that continuing supply chain woes will drive further investment and progress.
The fragility of supply chains has been exposed and there's no way back to 'the old way' now.
In "Innovation Driven Resilience," the 2021 MHI Annual Industry Report, MHI and Deloitte surveyed more than 1,000 supply chain professionals worldwide about innovation investments in the supply chain.
They found that 54% of companies are increasing or substantially increasing their investment in inventory and networking optimization, which is tied with cloud computing and storage as the technology companies are investing the most for resilience (followed by robotics and automation at 53%, and sensors and automatic identification at 52%).
The report also found that 45% of companies are currently using inventory and networking optimization tools, up from 40% from last year — and tied with artificial intelligence as the largest technology use jump in the survey.
"Until you put pressure on something, you don't know where the cracks are," said Jim Dempsey, director of U.S. business development and partnerships at Panasonic. Companies found where they didn't have visibility into their supply chains, which prompted this kind of investment too.
"There are still a good number of businesses running on paper and Excel, so in order to get visibility, you have to put some automation out where workers are," Dempsey said, even if it's just giving workers mobile devices to scan barcoded inventory, or adopting RFID tags to generate data, and then using warehouse intelligence to "be able to triage it," he said.
While the technology is becoming ubiquitous, it's not everywhere yet. Retrofitting distribution centers and warehouses — or building new ones — takes time.
"Five years from now, you're going to be an outlier if you don't have this technology implemented," said Riemann. Vision systems, robotics and drones will also become more mainstream as part of this adoption, he added.
"Lots of people in supply chain come from procurement backgrounds where bonuses are paid on securing the lowest unit cost on whatever they're procuring," he said. "We're beginning to see people being paid a little bit differently, and paid more on the overall impact of supply chain and that it can maintain service."
That last line is an eye-opener. What was it Munger said about incentives? 🤔
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'Excess' demand has played an enormous role too, as this chart from IIF economist Robin Brooks shows... 👇
Independently of this, supply chain issues are set to continue for another year according to this major chip supplier... 👇
Japan’s Rohm Co. says that vital semiconductors for automobiles and industrial machinery will likely remain in short supply at least throughout next year, adding to ominous warnings about further fallout from the global chip crisis.
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Jackson Hole - Non-Event?
We think it probably is. They've banged on about it for soooo long now. By the time the Fed actually taper no-one will be listening anymore...
For the wizards at Quant Insights the data supports our conclusion 👇👇👇
But that doesn't mean the market won't react.
Let's see what the man himself has to say when he takes the stage in half an hour!
Here's the link:
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