Supply chain consulting to help implement the right digital technologies to support your company’s strategic needs Most of the studies have claimed that effective supply chain management has been possible only because of information technology. Supply chain management gained prominence and popularity at the same time when there was evolution of many digital technologies. As we all know that supply chains hold great importance in every business. Supply chain management includes the coordination of activity from the procurement of raw materials till the time the final product is delivered to the end user. With the introduction of many advanced digital technologies such as blockchain, Internet of Things etc. and their integration in supply chains has brought great collaboration and connectivity. All the stakeholders associated with the supply chain can connect with each other despite being at distant locations. Digital supply chain technology is experiencing a high rate of change as new systems are created, updated and integrated. The challenge for supply chain and digital technology professionals is how to choose and implement the right set of technologies for their company’s strategic needs. It is necessary to develop a building block approach that is designed to scale with the company’s growth and be flexible enough to easily accept new systems and technology as they present themselves. It takes significant amount of time and investment to do a complete implementation and most companies don’t need the entire structure at the outset, but as they grow, more of these components are needed. Some industries such as food, healthcare, aerospace and others will require more robust inter-organizational collaboration and as blockchain and IoT become more prominent these systems will become more important in the digital supply chain architecture.
Most of the companies do not have the subject matter experts on each of the digital technologies and its systems, so the need arises to work with outside subject matter experts and consultants. They can help develop and implement the appropriate digital supply chain architecture. Group50, a leading supply chain consulting firm will help you systematically arrive at the right decisions and implementation roadmaps. They pull together the right mix of seasoned IT professionals, business process owners and vendors to understand the current state, develop a roadmap to the future state and plan its’ implementation. Benefits of digitalization of supply chain are listed below: Connects multiple data sources One of the most important aspects of digital supply chain is Internet of Things (IoT). With implementation of IoT, significant improvements to processes can be done and better ways to share data can be used. It connects multiple devices in order to share data across various channels and sites. Visibility and collaboration Digitized supply chains give a complete view of the entire supply chain. Greater transparency and visibility is achieved at every stage of the product life cycle. Information regarding the movement of the product through each cycle is available to all the supply chain entities simultaneously. Increased information sharing automatically leads to collaboration which reduces the development and turnaround time. It brings value in the entire supply chain and its performance. Studies suggest that still most of the companies are not reaping the benefits of digital transformation in supply chains. For leveraging all these benefits, consult experienced and renowned supply chain consultants like Group50. To have more information, talk to their digital supply chain expert. Visit: https://www.group50.com/