Today’s supply chain is no longer just a support function for enterprise businesses. Supply chains have become the driver of new business models and customer experiences. Driven by digital technologies, the optimisation of supply chains requires new strategies for market success.
In this blog, we look at a few ways that help optimise and transform today’s supply chain:
1. Balance Efficiency with Future Innovation
The core objective of the supply chain is to be as efficient as possible. As supply chains become more digital, networked and centred on customer outcomes, organisations and logistics providers need to address both current performance as well as future challenges.
Optimising supply chain capabilities must be done in conjunction with rapidly changing environments and requirements, and future technology adoption. The supply chain needs to be dynamic and flexible enough to adapt while generating new business value.
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2. Drive Business Through Technology
There is no one-size-fits-all approach to the tech used within the supply chain environment but experimenting with emerging trends and advanced technologies can drive business value via the supply chain. Digital transformation allows people to spend more time on innovation to foster growth.
Digitised processes contribute significantly to increasing the clarity, speed and accuracy of the value chain. For example, artificial intelligence can be used to automate processes that do not require human intervention, such as inventory reconciliation.
3. Focus on the Ecosystem
The supply chain has become pivotal in the market ecosystem as technology blurs the lines between industries and departments, enabling collaboration in today’s shared economy. Digital platforms connect supply chain assets, people, processes and ‘things’ for the benefit of all.
The supply chain is a living ecosystem where partners provide assets and services to customers, stakeholders engage in collaboration, teams contribute using their expertise and capabilities, and leadership focus on driving innovation and growth.
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