Taking the Smart Route: Reinventing the Supply Chain by Going Digital

0
4067

 

To be able to build an effective supply chain network, it is important to plan a system that is replete with advanced technologies, skilled people and streamlined processes. The world is moving at an incredible pace. Technologies that were new yesterday have become old and obsolete today. Similarly what was relevant to customers just a day ago seem to be replaced by an entirely new set of expectations and demands.

Disruptions Keep Coming; the Show Must Go On

Businesses should build supply chains that can withstand disruption and shield against adversities

Companies need to embrace the fact that change will be constant. Despite the ever-changing environment and even in the face of challenges, they need to ensure that operations are run smoothly, work isn’t hampered, and business is still on the path of progress.

Managers need to make sure that as the environment changes, the business is able to adopt flexibility and ensure success with respect to customers and profits. Business needs to put in place the right fundamentals which can drive it to the needed results. Supply chain is the prime focus because it is the linkage between the makers and the users; i.e. the business and its customers. So it is essential that the business is able to build a supply chain network that can manage change well and shield the business against unwanted adversaries.

One such aspect that has revolutionized the world is the advent of the digital era. Digital is defining how we live and breathe. Digitization has affected almost all parts of our lives and it’s no different for businesses as well. Advanced digital technologies are touching the very grass-roots of business, and overhauling completely the way operations are performed, giving way to a new era of conducting business.

Robust Supply Chain: The Differentiator

Digital is not just the software; it is the strategy and philosophy of business.

Thanks to this ‘digital’ phenomenon, companies are riding a wave of disruption, giving up dependency on tradition and adopting agile and exciting ways of serving stakeholders. The affect of this digitization is great on the supply chain. Businesses have realized that the only way to make a difference to their consumers and create a solid footing in the ever-changing market is to focus on creating a robust supply chain network, one that is able to help the business differentiate itself from tough competitors.

Businesses need to realize that they cannot tap into full potential unless they focus on reinventing and recreating their supply chain strategy. For businesses to become truly digitized with respect to their supply chain, it’s simply not enough to include bits and pieces of technology in their system or simply add, remove or replace old software with a new one. This does not make a supply chain digital.

The real meaning of going digital is in fact, overhauling the entire system. Building a digital supply chain network means reinventing the supply chain strategy and creating a network that connects different segments and creates one network out of disparate functions and enables smooth flow of material, talent and information.

Have Digital-Native Supply Chains

A supply chain network that has digital in its DNA is posed for the long run

The competitive world requires companies to transition from a ‘digitally enhanced’ supply chain network to a system that has digital ingrained in its being. A supply chain network that has digital in its DNA is the one that is posed for the long, treacherous run in the market. A digital supply chain offers businesses a number of difficult-to-beat competitive advantages.

To begin with, digital helps the supply chain to develop new synergies. Working in silos is a dangerous proposition. Communication is essential and that’s what a digital supply chain helps the organization to attain. With a digital supply chain in place, you have access to invaluable information, thanks to all the advanced analytics. Real-time information on market, suppliers, customers and competition, helps you to fully understand what needs to be done to serve your customers and how you can leverage the existing system to unlock full potential and delight them.

Globalization has made the world smaller and more compact. Businesses are taking advantage of the enhanced trade and collaboration opportunities and expanding their base. With digitization in place, businesses have the power to rapidly tap into new markets, build new offerings and scale up operations.

Organizations looking to deliver unmatched experiences with a world-class supply chain structure will continue to implement advanced digitization to induce an enhanced wave of collaboration and productivity. Thanks to increased focus on going digital, supply chain analytics structures will be more connected, intelligent, scalable and rapid than traditional supply chain management.