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The Ontario Chamber of Commerce, in collaboration with KPMG, has developed a report on the state of supply chains within Canada. Throughout the pandemic, supply chain issues became more and more apparent as consumers were unable to get the products that they needed. This report suggests that, when working most efficiently, consumers should be entirely unaware of the supply chain itself. Products should be delivered with little to no interaction between the consumer and the distributor. While supply chains continue to evolve and take advantage of modern technology, there is still much work that needs to be done to renew the state of Canadian supply chains.
The key to the renewal process of our supply chains is to act quickly to further modernize our current system. The current state of our system has been brought on by rapid changes to consumer behaviour as well as instability in various regions of the world. These factors make it difficult to accurately predict when, where, and why certain products may be needed. To improve on our predictive capabilities, we can use a “Dynamic Risk Assessment” (DRA) approach in order to better predict future effects on the supply chain.
In order to make these changes work, the federal government will need to prioritize attracting new labour to Canada in order to fill labour shortages. To retain this talent, organizations will need to focus on developing a skilled and effective workforce that has the ability to make meaningful decisions in their workplace. To further fill in this labour gap, companies will need to look to automation in order to stay competitive in a shifting supply landscape. As emerging technologies such as machine learning and artificial intelligence become more relevant to our daily lives, new job opportunities will open up allowing for a more diverse workforce that can take advantage of the opportunities that these systems offer.
To read the full report from KPMG and the Ontario Chamber of Commerce, please visit the KPMG website.