Achieve better business outcomes with digital supply chain consulting Industry 4.0 requires the businesses to rethink the ways they design and operate their supply chains. The customer expectations are increasing as they look forward for granularization of orders with individualized products and immediate service. So, supply chains need to become faster, efficient and precise. From sensors and cloud services to big data, newer technologies are driving the digital trends, and their cost-benefit analysis will help in determining what all transformations they can bring out to supply chain management. Digital supply chain technologies Digital supply chains add advance technologies like IoT, predictive analytics, blockchain and machine learning to drive improvements over the traditional supply chains. Now the definition of digital supply chain has extended to include the supply chains that deliver any digital product, such as a software platform or a website, and this definition is especially useful for the technology companies. Predictive analytics capability of a digital supply chain can help the businesses by alleviating imminent hostile events. It can be effectively used to improvise decision making in the resourceful areas of a digital supply chain, such as logistics and transportation, and positioned to leverage the end-to-end throughput of a supply chain. AI can be used to improve and even automatize the decision making and improvise the customer experience. IoT is one of the key digital supply chain technologies that can be employed for improved uptime through distant monitoring and care, preventive maintenance, and demand management and supplies. Blockchain technology Traceability, validation and smart contracts are the key contenders for blockchain implementation in digital supply chain technology. Blockchain can be used to create a digital record of the provenance and movement of an item in a digital supply chain containing unique ID and certificate number. This will validate the authenticity and traceability of the products.
Digital supply chain management offers some unique benefits to the business managers, These include the below ones: Demand-driven supply chain: Digitalization allows the companies to adjust the products in the supply chain using real time sales information. Reduced markdown and stockouts: Markdowns refer to dollar-to-dollar profit reducers while stockouts refer to missed sales. By optimizing lead times, organizations can have the right product mix to attract the customers and address the issues of markdown and stockouts. Improved cash flow: With a faster moving digital supply chain, less amount of capital remains tied up in it, so that you have improvised cash flow available tor your other business needs. Eliminating digital waste and manual processes Digital waste can have adverse effect on the efficiency of supply chain. It is important to identify the sources of digital waste in data capturing and management, and integrated process optimization, to develop the solution to reduce it, so that one can keep the supply chain functioning at its optimum performance. Digital supply chain technology breaks down silos by eliminating manual processes, and radically improving communication, all the while ensuring a free-flow of real-time information to every stake holder of the supply chain. Apart from monetary benefits, digital supply chains help in automating the processes and improving decision making capabilities of the business managers, thus allowing them to focus on more valuable tasks. Digital supply chain technology consulting for your business A digital supply chain is complex, it consists of omni-channel systems, software systems and other components, and needs to be scalable and sustainable. Digital supply chain technology consultants at Group50 can help in evaluating your supply chain to uncover the opportunities to better integrate soiled functions and identify initial points of digitization in your supply chain. They can help you in properly designing the business processes and leverage your digital supply chain assets for the most efficient intersection of the processes and technology for better business outcomes for you. Get in touch with Group50 digital supply chain consulting to gain the key business advantage from your digital supply chain implementation.
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