T H E 1 2 T H U N I T E SUPPLY CHAIN & DATA D N A T I O N S G L O B ADVANCE THE COLLECTION OF ENHANCE SUPPLY CHAIN VISIBILITY A L C STANDARDIZED, HIGH-QUALITY DATA AND ENGAGEMENT O M P A CEOs call for all companies to invest in the Building on strengthening a company’s data C T - A collection and standardization of data to enable strategy, CEOs want greater visibility into C C E visibility into their business and unlock the value their supply chain to help overcome current N T U of data-driven decision making. Nearly three challenges and better prepare for future ones. R E C fourths (72%) of CEOs are already digitizing Already, 54% of CEOs are strengthening visibility E O S their business, with 55% of CEOs enhancing into the social impacts of their company’s T U D sustainability data collection capabilities supply chain, as CEOs recognize the importance Y specifically across their supply chain to of a human-rights based approach to building build resilience. President and CEO of S&P resilience. Taking action helps businesses Global, Douglas L. Peterson, notes, “The most (1) map their supplier network, (2) identify social important competitive advantage in business, and environmental impacts and risks, and and specifically ESG reporting right now, is (3) identify geographic and resource risks. having access to high-quality, consistent data.” Greater visibility also helps companies collaborate Managing Director of Asia Pulp & Paper (APP) across their supply chain, empowering them Sinar Mas, Bernard Tan, expands, to make more sustainable and economical “Data is key to tracking progress and decisions. empowering leaders.” Greater visibility also helps CEOs decide where Having a single source of truth is crucial for to dedicate limited time and resources to build empowering CEOs to monitor data and KPIs, resilience, such as strategically introducing identify opportunities and vulnerabilities, and redundancy and potential regionalization at properly report progress to stakeholders. the greatest points of impact. To date, 37% of As Gagandeep Bhullar, Founder & CEO of CEOs are already duplicating and diversifying SuperHuman Race, remarks, “Technology does their supply chains to strengthen their agility. not look at human stories, it looks at data. CEO of Physical Risk Solutions, Richard Wilson, Organizations often use stories to show their describes, “To build resilience, we must have impact, but that only leads to anecdotal impact. a strong knowledge of existing threats, put To really address systemic inequalities, we need mitigation plans in place, and build local data analysis, thoughtful understanding of key relationships with companies and communities.” problems, and scalable solutions to cover larger populations.” 70 71