How to manage today’s uncertainties through nearshoring, digitalization and sustainability
Nearshoring, #resilience and #sustainability are three developments which are currently changing our future and offer us potential to grow. The reasons for these topics are versatile and recent developments – such as rising raw material prices and other effects resulting from the pandemic or war in Ukraine – have accelerated them dramatically. As a result, all of our daily business lives are increasingly burdened by uncertainty, less ability to plan and rising costs. But how do we manage to deal with them?
Nearshoring – to manage uncertainty
Managing uncertainty is complex. In the past, companies have mainly focused on cost efficiency when designing their production and supply chains. Clearly, this will always be an important aspect. Nevertheless, many companies are currently looking at the issue of nearshoring. They are looking for alternative or additional production sites and suppliers in their home regions, primarily in Europe and North America. The need for local inventories will therefore grow. At thyssenkrupp Materials Services, we are able to meet this demand thanks to our broad network of strategically distributed logistics and warehouse locations in Europe and North America.
Digitalization – to increase resilience
The pressure on global supply chains has always been huge – occasions such as natural disasters or trade wars have also caused disruptions in the past. However, the dynamics have increased significantly. As a result, companies are even more concerned with how to make their supply chains resilient.
We may not be able to influence external disruptions, but we can influence how to deal with them. This is why we create digital supply chain solutions for our customers by generating a big data picture capturing all the building blocks in the supply of materials – ensuring a high level of transparency and thus enabling adjustments in real time as soon as they become necessary. The demand for digital solutions like this is growing steadily. Research?confirms that companies are increasingly concerned with improving their planning accuracy. At thyssenkrupp Materials Services, this is exactly where we come in with solutions such as pacemaker.ai by thyssenkrupp , our AI-based supply chain solution.
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Sustainability – to create a valid purchasing argument
Sustainability has been on top of our customers’ as well as our own agenda for quite some time. The topic is driven not only by the European Union's goal of being climate-neutral by 2050 and the rising costs of offsetting CO2?emissions, but in particular by our own sense of responsibility. In order to meet the diverse requirements, many customers consider sustainability to be one of the most important purchasing arguments in the coming years, according to our surveys. Companies are investing in assets that will help them work towards climate neutrality and are also willing to pay higher prices for environmentally friendly products. In this context, the circular economy is changing the entire market landscape, as waste, for example, is becoming a valuable resource.
?We want to support our customers in meeting their sustainability targets with smart solutions and low-emission products. To achieve this, we take a holistic approach to sustainable development, i.e., ecological, economic and social – and even go beyond the internationally recognized ESG standards. With our sustainability manifesto?"BEYOND", we have supplemented these guidelines with points that are of central importance to us, our customers and thus the success of our business.