You may be tired of seeing the words digital and digital supply chain transformation by now, but the need for companies to make this move is more real than ever. In current times of slow economic growth and Amazon challenging almost every industry’s traditional business model, almost every company is looking over its should for the next Google, Tesla, Nefflix, Uber or Airbnb. Companies fear becoming the next Harvard Business Review case study of a company that missed the digital transformation imperative.
The supply chain industry is no exception. Digital supply chain digital transformation involves painstakingly creating and so-called digital twin concept, which models and mirrors the actual physical supply chain network. With automated processes and near real-time information, companies can say goodbye to inefficient manual processes and costly investments in unneeded assets (e.g., inventory) and respond more quickly and accurately to nay potential business disruptors.
Traditionally focused on reducing costs, supply chain management (SCM) and the associated technology are now used to drive growth and mitigate risks. The shift in focus requires a total digital transformation of SCM. Yet, this is complicated by disparate enterprise software systems landscapes, global operations, large data volumes, and the uncertainty regarding data quality and integrity.
Supply chains of the future will offer near real-time connections, digitized collaboration and scenarios, and automatic simulation capabilities. Also, traditional cadence-based planning and decision-making will give away to continuous, event-driven planning and decision making.
Download this report from Technology Evaluation Centers (TEC) and discover why it’s important to begin your digital supply chain transformation journey.