Despite the initially grim economic projections for 2023, both the global and US economies fared better than projected and exhibited resilience throughout the year. In Q4 2023, inflation stabilized at 3.4%, while the federal funds rate remained steady at around 5.5%. As we entered 2024, it brought with it the highly anticipated election season, highlighting
In the fast-paced landscape of SaaS, AI/ML, and Data Analytics, businesses are drawn to technologies promising to deliver big results while solving specific challenges. While some advancements might yield quick wins for individual tasks, adopting an Enterprise Resource Planning (ERP) solution is far more foundational and demands a holistic perspective. The ERP system is not
In the fast-paced world of manufacturing and distribution, technology plays a pivotal role in ensuring businesses remain competitive, secure, efficient, and responsive to ever-evolving consumer demands. For CEOs navigating this dynamic landscape, it’s abundantly clear that technology is not a one-size-fits-all solution. To make effective choices in technology investment while optimizing returns, organizations need a
On September 18, 2023, household cleaning product giant, Clorox, sent shockwaves through the industry when it revealed a cyberattack that had occurred a month earlier was still causing significant production disruptions. The attack had damaged critical parts of Clorox’s IT infrastructure, resulting in extensive operational upheaval, despite the implementation of their business continuity plans. Although
Cybersecurity has become a paramount concern for businesses of all sizes and industries. According to IBM, the global average cost of a data breach is $4.45 million, a 15% increase over 3 years. In addition, it is estimated that 560,000 new pieces of malware are detected every day and that there are now more than
Robotics is gaining acceptance in the middle market as a way to improve efficiency and provide relief in a tight labor market. For many, automated systems will account for 25% of capital spending over the next five years, according to a 2022 McKinsey Global Industrial Robotics Survey. Automation will represent 30% or more of their
The COVID-19 pandemic began a series of disruptions that continue to impact manufacturers’ and distributors’ financial strength and growth plans today. The pandemic snapped the longest continuous economic expansion in US history, according to an analysis by consulting firm McKinsey. Since then, manufacturers and distributors have faced shutdowns, supply chain delays, labor shortages, inflation, and
While technology brings incredible enhancements to supply chain management, it also creates more vulnerabilities to an enterprise. These threat vectors leave a company exposed to significant disruption in business operations, which can result in long-term ramifications to the organization and its entire supply chain. Furthermore, the interconnection of systems and data across supply chain partners
Empty shelves, delivery delays, and increased shipping costs have received much attention from the general population since the pandemic began in 2020. According to the online publication Axios, 75% of U.S. companies’ supply chains were disrupted early in the pandemic. But as supply chains emerge from the pandemic, demand and supply continue to be at
In 2022, a well-known, global auto-manufacturer was scrutinized under accusations that portions of their supply chain relied on child labor. This kind of allegation can open an organization up to significant risk including criminal and civil penalties, not to mention the reputational damage incurred. While the idea of vendor management and vendor management systems (VMSs)
