Is your supply chain ready for digitalization? Supply chain is a complex mix of activities focused on cost effectively delivering products or services. A well running supply chain is important for the success of any business. For its functioning in an efficient manner, a seamless connectivity among the organization, its people, processes and everyone involved, from manufacturer to the end user, is needed. Digital Supply Chains These days, the traditional supply chains are being aided with the digital technology. When advanced digital technologies such as blockchain, IoT, and AI are implemented into the traditional supply chains to drive significant improvements, it is termed as digital supply chain. It requires investments in technology and IT infrastructure which are strategic assets that define a company’s ability to effectively compete the marketplace. Digitalization enables an organization to improve their performance in various complex areas by transforming and automating the required manual processes. Organizations adopting digital supply chains have a competitive advantage over their competitors as it enhances their efficiency, productivity and generate higher profits. Most companies struggle to leverage digital technology investments into lower cost, higher levels of productivity, lower working capital requirements and improve sales. Group50, a renowned supply chain consulting company helps organizations to optimize their digital supply chain to improve their performance metrics. They take a holistic approach to optimize supply chains which includes integration of systems that are operated by the company, customers, logistic companies, suppliers as well as the strategic needs of the company. To be a strategic asset for the company, the digital supply chain requires:
Optimized digital technology and infrastructure Properly designed business processes New organization structures Integration with customers, logistics companies, factories, machines and suppliers.
Deliverables of digitized supply chain: Brings connectivity to all data sources The most vital aspect of the success of digital supply chain is IoT. It brings connectivity of the devices utilized to deliver data across various sites, processes and even organizations. Data sharing and connectivity leads to improved processes and better productivity. More future driven Digitalization in supply chain is cross-functional, which helps in predicting the customers demand, planning priorities and executing the processes to meet the customers’ demand. Also, it enables in achieving the strategic objectives of the company such as new markets, development of new products and acquisitions and much more. Improves the collaboration Digitized supply chains eliminate the communication gaps within the organization, resulting in greater data sharing, smooth workflows, elimination of bottlenecks and collaboration on new and important initiatives. Digital supply chain is complex because of the number of components that make it up. Infrastructure, software systems and components, and OMNI channel systems, all need to be scalable and sustainable and these are only a few of the challenges. At Group50, they have developed digital technology assessments and workshops, which will help you strategically, arrive at the right decisions and implementation roadmaps for a digitalized supply chain. They pull together the right mix of supply chain consultants, seasoned IT professionals, business process owners and vendors to understand the current state, develop a roadmap to the future state and support its implementation.
Visit: https://www.group50.com/