Are You Ready For The Restart? America has never experienced a global outbreak like that of the Coronavirus (COVID-19). Companies saw panic buying that caused strains in the supply chain creating shortages and/or empty shelves or retooling their processes to make new products to support health care, police, and other first responders dealing with this virus, and/or stopping production all together. What has made America the greatest country to live and work is also what will make America stronger as we come out of this crisis. When this happens, companies will now have to look at their supply chain differently to prepare for the restart of the economy. Will they be able to manage the influx of orders from their customers? Will they have to change their processes to support the economic recovery? If so, how?
the corresponding documents?
Most companies examine their procurement, manufacturing and/or logistics processes when they look to make improvements to their supply chain. They look to new technologies for these improvements which is a great start. However, the supply chain is only as good as the processes that support and manage it. What does this mean? If your Information Technology (IT) supply chain is not integrated and cannot support the entire order to cash process electronically, you will not gain the cost saving new technologies can provide. In addition, you may not be able to support your customers’ needs during and after the restart.
4 Do you manually each process?
Supporting the electronic supply chain for over 20 years, Innovate E-Commerce has done many Audit and Control Assessments of companies’ electronic document processes. Some of the basic questions we ask before starting the assessment you should be asking yourself. 1 Can you guarantee never lose data?
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2 Do you know if you have ever lost data? 3 Do you know where each business document can be found at any point in your processes? review
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5 Are your electronic documents completely integrated into you applications or is there manual intervention anywhere in the process? 6 How long does it take to onboard a new trading partner and what impact does that have on your business?
Unfortunately, many companies see IT as a necessary evil and not a strategic differentiator. With the Coronavirus outbreak Why is it critical to support the order to cash documents this line of thinking needs to change. Companies need to conelectronically and efficiently? Ask yourself, what would sider that it will require time to improve their electronic supply happen if: chain and may not see immediate return on investment. But • Your company lost 1, 10, 100, 1000 or more not making improvements may have a bigger negative impact. new orders? • Your customer would not accept your products because you could not provide the status of the shipment?
Article by Karen Puchalsky
• Your payment was delayed because your invoices were incorrect and/or rejected. • You could not process the high volume of orders because too much of your processes are manual? Electronic Data Interchange (EDI) has been around since the 1980’s and has been the standard for doing business electronically. While companies may have changed to other formats (XML, EDIFACT, etc.), companies often don’t think of EDI as strategic to their business. During and after the restart, doing business electronically effectively may be the difference of companies gaining or losing business or going out of business completely. Customers are going to be looking to restock shelves and warehouses, replenish inventory to restart production lines or replenish depleted inventory. Will your IT infrastructure be able to handle the increased volume of the inbound orders and
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