7. Lean Practices in the Supply Chain Lean thinking emphasizes waste reduction, ongoing improvement, and value creation. Techniques like continuous improvement cycles, process mapping, and root cause analysis push operations to become leaner and cut out unnecessary costs. The seven components can build excellence by aligning supply chain activities with business strategy and customer demand. Challenges Facing Today's Supply Chains Modern supply chains have several complex challenges that require strategic focus and innovative thinking. Some of the most significant problems include: Globalization, Supply Chain Complexity, and Risk Supply chains that globalize create complexity and introduce risk from geopolitical instability, trade laws, or transportation blockages. These complex challenges require solid risk management. Demand Volatility. Customer behaviour changes perpetually, and it becomes harder to forecast demand accurately. Studying customer behaviour helps to design responsive, demand-driven supply chains. Disruptions and Resilience Natural catastrophes, pandemics, and cyberattacks continue to cause supply chain disruptions worldwide. Resilience measures such as visibility and diversifying the suppliers are becoming critical. Technology Integration Although technology like AI, IoT, and blockchain can enhance supply chain operations greatly, integrating them involves high investment, training, and cultural adjustment costs. Sustainability and Ethical Sourcing Customers and regulators are progressively demanding that businesses con