There is a new trend noted by Gartner towards digital optimisation of supply chains. This is due to the globalisation of suppliers shifting operational and disruptive technologies and increased market demands.
Disruptive technologies such as the Internet of Things (IoT), machine learning, cloud computing, and advanced analytics have influenced how organisations view their entire supply chain network.
How do organisations survive the massive waves of change that has a direct impact on their supply chain needs?
According to the research, the answer lies in the collaborative digital supply chain platforms and their capability to integrate and extract valuable data between connected software systems such as enterprise resource planning (ERP) and other workflow applications.
Here is why transformative supply chain solutions are no longer a luxury, but a necessity for suppliers, manufacturers, and stakeholders alike.
Fast Product Lifecycles
High-tech innovations happening at record rates have given rise to shorter product lifecycles where product components are constantly being upgraded each year, and sometimes even faster.
The high volumes of production have to be balanced with shorter lead times in materials sourcing, procurement, production, and shipping.
It is why digital supply chain management solutions have become the hallmark of speed, agility, and overall transparency in data sharing and communication across the board, from manufacturer to trading partner, and from logistics operations to payment process.
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Increasing Data Silos
Supply chain environments have to put up with lots of constant streaming of data that makes the aspect of managing information challenging. Multiple entry data systems can slow down workflows and affect interconnected business departments.
The need for sharing, extracting and further analysing all that data led to a higher demand for digital supply chain management systems.
These are no longer seen as luxuries as they have become more of a necessity in the transformative digital world, especially for companies who want to maintain or boost their customer satisfaction, quality and performance levels in a competitive marketplace.
Advanced Predictive Tools
Technology advancements and improved automation of supply chains are essential for manufacturers and suppliers to remain relevant and diversify product lines and scale operations.
However, the need for more advanced tools and intelligent systems capable of executing the entire roadmap from procurement to shipping becomes a reality. Also, innovative frameworks such as blockchain technology are becoming viable options.
Business intelligence and predictive analytics are powerful tools that assist organisations to understand and make better use of data and streamline their operations as a result. A connected digital supply chain management system can fulfill the above requirements.
Consider making use of an integrated ERP system like Dynamics NAV to integrate your company’s supply chain needs.