This is your weekly supply chain bulletin from B2BE for the week starting 21st November 2022.
Each week, we bring you a rundown of the latest trends in the news from across the supply chain industry. We cover the issues most important to you, bringing you useful links to the full articles. This ranges from news on various supply chain disruptions to strategies to lessen the damage. We also include other relevant supply chain related updates. If you missed it, you can read our last edition here. Read on to see what’s making the news this week.
Spain move towards mandatory electronic invoicing
A law aimed to help the creation and development of companies changes the rules regarding electronic invoicing, but are more details needed? A new Spanish law officially published in September aims to strengthen Spanish businesses and industries. The measures are aimed at speeding up the creation of companies, improving the regulation for the development of economic activities and facilitating access to financing.
Inventory mismanagement could be resulting in $163 billion of supply chain waste
Over $163bn worth of inventory is discarded every year due to expiry or overproduction, this figure equates to 8% of the total. 4.3% of that total is wasted each year due to items perishing or being damaged. With increasing geopolitical risks, inflationary pressures, labour shortages, spiralling energy, fuel costs, and the impact of climate change on production businesses are bracing themselves for a more volatile future. Eliminating supply chain waste is key to addressing the needs of businesses and consumers. Helping demand increases and reducing environmental damage.
The complexity of the food supply chain is causing risks
A new report by Lloyd’s and WTW highlighted that the risks with food chains around the world have increased as the supply chains have grown in size, volume and complexity. The sector has sensitivity to changes in natural climate cycles and weather patterns. However, a resilient and thriving food and drink industry is key to the world’s economic recovery.
Supply chain sustainability is unlikely to improve with COP27
Retailers shouldn’t wait for laws to force action on sustainability goals but to proactively seek marginal gains across the entire value chain. As COP27 ended a leading supply chain expert warned businesses that this year’s event is unlikely to see any meaningful impact or change in sustainability behaviours.
More information
Thank you for reading our weekly supply chain bulletin where we summarise the latest news! Is your organisation facing disruptions to your supply chain? If so, what strategies are you currently using to protect your transactions?
For years, B2BE has supplied a range of innovative solutions designed to automate and streamline processes across your company’s supply networks. If you would like to find out more, contact us.