It used to be that when a company wanted to optimize its supply chain, it looked to transportation, warehousing, inventory planning, or logistics. Today, improving these elements might nudge the needle slightly, but they will in no way meet the scale and impact of supply chain technology.
This is for a couple of reasons. Not only does SCM digitization make your business more agile and data-centric, but it allows you to compete with newer, younger companies who were built on digital foundations. Businesses want to take the leap (50% of companies believe that technological advancements have a strong impact on the supply chain, logistics, and transportation operations), but a whopping 46% of supply chain professionals still rely on Excel spreadsheets for their operations.
The global pandemic has had a major impact on the supply chain, exposing some of its greatest weaknesses. To protect the supply chain for the future, the next likely step is to make SCM more accessible and agile than ever to be able to pivot when we need to most.
Out with the Old
The traditional supply chain model dates itself with every passing day. From a linear model that limits visibility to a lack of communication that forfeits agility, the supply chain model we’ve come to know does not mesh with today’s business practices or modern customer expectations for increased speed-to-market.
But integrated, automated supply chain technology is not just a matter of being “en vogue.” It is a true differentiator for companies who want to accelerate their future.
|Traditional Supply Chain||Integrated SCM Platform|
|Limited visibility||Complete view of supply chain|
|Siloed teams and lack of communication||Real-time data access and communication|
|Wait times and missed opportunities||Rapid response to changing variables|
|Little quality control assessment||In-time feedback loop for quality and status|
The Supply Chain is Ready for Transformation
Perhaps you’ve already digitized other areas of your business: sales, service, marketing, or even finance. The next, most impactful area? Your supply chain. Forty-seven percent of retailers agree, highlighting supply chain digitization as one of their top three organizational priorities. Yet only a fraction have taken action.
Businesses that invest in supply chain technology stand to gain a number of benefits:
- Operational agility: With all parts of the supply chain in one system, visibility increases exponentially across every stage. Digitization allows for real-time data tracking, giving SCM managers the necessary information to make better decisions or quickly change course when needed.
- Speed to market. Businesses that house all supply chain data and project management processes in one place enjoy faster speed-to-market with a bird’s eye view of every move and potential disruption.
- Increased security. Managing supply chain compliance is not only cumbersome on paper, but risky when not automated. When all teams and vendors work out of the same system, it’s much easier to track liability, compliance, and ethical practices across the entire ecosystem.
- Improved service and profitability. Customers across industries now expect the speed and visibility they receive as consumers. When data is available in real time and powers every decision, new products are launched and shipments arrive on time, improving client satisfaction and lifetime value.
Join the Digital Revolution
Digitizing your supply chain may seem complex, but it doesn’t have to be. Integrations with your existing systems make it easy to pull in your data instead of recreating it. Regardless, not transforming your SCM is a guarantee for losing your footing within an entire global ecosystem of businesses that expect fast, efficient processes backed by technology.
Embracing supply chain management software not only allows you to improve your daily operations and employee productivity, but levels the playing field with your competition to better assess the market.
As the global business ecosystem changes, digital transformation of the supply chain is imperative. Discover how the Suuchi GRID helps you achieve all of these benefits through a single end-to-end platform.
Written by Suuchi Industry Insights