What is a supply chain What is the purpose of supply chain management systems?
Right now, many companies’ supply chains are built on dated, legacy technologies. They can’t support end-to-end visibility or real-time decision-making, meaning they struggle to deliver strategic business value. They’re essentially analog machines trying to solve problems in a digital world. The result? Slow response times, waste, conflicting priorities between functions, delays and rigidity. What’s more, companies struggle to meet increasingly granular customer needs. Show
Furthermore, traditional supply chain organizations usually focus on optimizing a particular aspect of the supply chain—not all of it. Instead, organizations should share data across silos and optimize along the entire value chain. Digital transformation of supply chains To address these challenges, companies should create intelligent supply chains based on data, analytics and AI. These, along with digital twins, are among the top technologies that supply chain executives are looking to deploy in their organization. Enabling and optimizing them all, however, starts with the cloud. Operating in the cloud is critical because it allows companies to process huge amounts of data—from virtually unlimited sources across the entire supply chain—at speeds and volumes never before possible. Deeper analysis of more data, faster, means developing critical business insights and smarter decision making. This includes gaining the ability to reconfigure how people work, and gaining the agility to respond quickly to new insights that the data generates. Along with being more powerful, simple and flexible, the cloud is also more affordable. This opens up endless possibilities for improving and optimizing the supply chain, particularly in terms of building in resilience and ensuring responsible operations. There are additional benefits, too. When companies transform their supply chain organization, the focus shifts from driving profitability to delivering value across growth, sustainability and trust. Along with driving profits, the supply chain becomes instrumental in positively impacting the planet and society alike. Digital technologies and data lay the foundation to make supply chains customer-centric, service-oriented, self-learning, intelligent and agile. There are five keys to executing an effective intelligent supply chain strategy:
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