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Wolcott: Business is Heading Towards Hybrid Supplychains

Oct 19, 2022

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Digital transformation, investments in innovation, research, and development, as well as changing the way of thinking and recognizing "fresh" ideas and human resources within the company, are key to the survival and development of business in the future, said the world-renowned innovation professor Robert Wolcott, at the Executive Masterclass Winning the Future: Proximity, Innovation and the Future of All Business held today the Chamber of Commerce and Industry of Serbia. 

Wolcott pointed out in particular that emerging technologies and new business models enable companies to provide products and services even closer to the moment of demand thus shortening supplier chains which are increasingly gaining hybrid form. 

He believes that part of the current long global supply chains will survive, that part of the business will be linked to regional supply chains, but that thanks to the progress of technology, part of the production will be located closer to consumers.

"We cannot predict the future in detail, but we can see some outlines of the future. Based on the forecast, we can build - a portfolio of the future," Walcott pointed out, adding that Serbia is currently in a phase of development and transition and that this is precisely why excellent business opportunities are being created in our country.

The lecture was given on the importance of the application of digital technologies in business and their impact on industries, as well as the application of the concept of proximity and what it means for businesses and customers

Professor Wolcott is a lecturer at the prestigious American business schools "Chicago Booth" and "Northwestern Kellogg", working closely with global companies such as ZF, Exelon, Castrol, and Johnson Controls, and is an investor in over 20 companies. 

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