LOS ANGELES, May 10, 2023 (Newswire.com) - Stephen Shaya, M.D., Managing Director of Akkad Holdings, was an esteemed expert during the Milken Institute 2023 Global Conference public panel on Modernizing the Global Supply Chain. Dr. Shaya's perspective was among those that highlighted the digitization of international trade, accelerated adoption efforts, and the improved trade finance ecosystem for SMEs and emerging-market economies.
During the panel, Dr. Shaya compared the current global supply chain to an outdated 8-track tape, stating that it needs to evolve into a more modern and efficient system. "Global supply chains need to be modernized and restructured to meet today's challenges," said Dr. Shaya. "By harnessing the power of data, we can create a more agile and resilient supply chain. It's time to move away from the 8-track tape and embrace the iPod era." He explained that digitizing trade documentation and management, allowing for real-time tracking and visibility, would significantly reduce delays and disruptions, ultimately improving supply chain resiliency.
The moderator for the panel was Pamela Mar, Managing Director of the Digital Standards Initiative at the International Chamber of Commerce.
Other speakers included:
- Keyvan Esfarjani - Executive Vice President and Chief Global Operations Officer, Intel Corporation
- Samuel García - Sepúlveda Governor of Nuevo León
- Kevin Klowden - Chief Global Strategist, Milken Institute
- Phil Levy - Chief Economist, Flexport
- Marna Ricker - Global Vice Chair - Tax, EY
The experts shared valuable insights into the global supply chain's problems, including the effects of an aging population, regulatory challenges, and shifting manufacturing away from certain countries. They discussed solutions such as bringing manufacturing back to local areas, embracing new ideas and practices, and promoting sustainability and green initiatives.
The panel emphasized the need for collaboration and shared commitment to shape a brighter future for businesses, communities, and individuals worldwide. The participants agreed that it is essential to rethink traditional practices and find new approaches to modernize global supply chains. Dr. Shaya stated, "The pandemic has shown us the fragilities and vulnerabilities of cross-border supply chains. We need to take this opportunity to rebalance and redesign them for greater sustainability, efficiency, and resilience."
Click here to watch the full Modernizing Global Supply Chains Panel
About the Milken Global Conference
The Milken Global Conference is one of the world's foremost gatherings of leaders in business, finance, politics, and philanthropy. The conference aims to provide a platform for key decision-makers to discuss, debate, and collaborate on solving some of the world's most pressing challenges. For more information about the Milken Global Conference, please visit milkeninstitute.org
About Akkad Holdings
Akkad Holdings is the family office of Stephen Shaya, M.D., whose family owns J & B Medical. J & B is a world-class family of businesses that span across all aspects of medical-related care, including the following: insurance-covered products, national managed care contracts, medical-surgical products, retail home-care products, technology solutions, and serves as one of the largest third-party billers of consumable medical products in the United States. J&B owns HNC Virtual Care Solutions, which manages a telehealth company serving customers worldwide.
About J&B Medical
J&B Medical is a recognized market leader in healthcare focused on enhancing the quality of life, improving clinical outcomes, and reducing healthcare costs for consumers and businesses. Services include insurance-covered and emergency-medical supplies, retail at home, veterinary products, and medical technology solutions. J&B Medical is a nationally certified Women's Business Enterprise. For more information, please visit us at JandBMedical.com.Contact Information:
Stephen Shaya, M.D.
Original Source: Stephen Shaya, M.D. Speaks at the Milken Global Conference on Modernizing Global Supply Chains