OP-ED
PROTECTING YOUR SUPPLY CHAINS Anas A. Abdul-Haiy, Director and Deputy CEO of Proven Consult, tells us how you can protect your supply chain during the COVID-19 Pandemic
As the world is battling against COVID-19, the pandemic has an uneven effect on the supply chain industry. Industries such as auto, travel, consumer goods, electronics, and retail have been profoundly impacted. The supply chain economy has a large and distinct impact on economies of the world that is driven by industrial activities and innovation. DATA LEADING THE WAY Having a data-centric approach towards supply chain management is making suppliers more agile in their operations. Using predictive modeling and data simulations, businesses can predict the impact of a sudden decline in demand in one country that can impact the entire supply chain. Live tracking the sales, shipments, and orders with minimum
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latency will help businesses to identify surge or decline in demand and these data can guide the decisions regarding the production levels. END-TO-END DIGITISING Having a cloud-based or web-based ordering system, allows businesses to act on shifts in demand proactively. Creating an end-to-end digital IT ecosystem is key to drive and minimize the latencies. However, to track actual production, inventory levels, and shipments, businesses must leverage various Internet of Things technologies together to bridge data between various processes. Starting from placing the order or query to the actual production and distribution, these various processes in the value chain funnel need to be digitized to enable faster decision making.
AUTOMATION FOR AGILE SUPPLY CHAIN While the manufacturers are looking for alternate vendors for their critical components, the reduced labour force and increased demand have led to increased lead time. Accelerating production and reducing manual interventions in the business processes are critical to solving these problems. Suppliers must develop greater automation capabilities to accelerate production and minimize manual interventions in the business process. Using IoT and robotics, businesses can fast track assembly lines, inventory management, and data analytics. EMBRACING THE DIGITAL WORKFORCE: For manufacturers, labour shortage and replenishment serve as focal points for op-
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