Digital supply chain is built completely on the
smart systems that help the organizations save time, money and resources. It is
supported by an array of disruptive technologies such as Internet of Things
(IoT), Blockchain, Cloud Computing, Artificial Intelligence, Industry 4.9 among
others.
The digital supply chain is complex because of
the number of components that make it up.
Companies that are focusing on effective digital supply chain management
need an infrastructure, software systems and components that are both scalable
and sustainable.
Digital
supply chain technology
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.
Elements of
a digital supply chain
·
Core business support servicing the company’s basic business needs
·
Production/Services management focused on the key products and
services the company offers to its customers
·
Customer focused service systems that are required in today’s
marketplace
·
Supply Demand Management providing the marketplace with products and
services close to demand
·
Inter-Organizational Collaboration are the systems that collect and
access data for decision making, provenance, chain of custody, etc.
It takes significant amounts 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.
Group50, a leading supply chain consulting firm have supply chain and digital
technology subject matter experts who focus on leveraging digital supply chain
assets at the intersection of people, process and technology. They take a
holistic approach to optimizing digital supply chains which includes the
integration of systems that are operated by customers, consumers, the company,
logistics companies and suppliers as well as the strategic needs of the
business.
Benefits of a digitized
supply chain
Creates a connection
between multiple data sources
With digital technologies such as IoT and Blockchain becoming
so prevalent it has become an essential aspect of modern and successful supply
chain. It enables to connect the devices that are used to deliver data across
various processes and channels within an organization. Such connected system
helps in improving processes and helps in improving the overall product
quality.
Makes your organization
more agile and future driven
Digitalization in supply chain is cross functional, which
helps in predicting the customers demand, planning priorities and then
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.
Cost management and
cash flow
Digitalization of supply chain leaves a major impact on the
cost management and improved cash flow. This is all possible because the faster
the supply chain and its operations moves; the less capital gets tied up in the
supply chain which further results to better cost management.
For the digitalization of your supply chain and leveraging
all these benefits, consult a renowned supply chain consulting company like Group50. Their digital
technology assessments and workshops help you systematically arrive at the
right decisions and implementation roadmaps. They put 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 support its’
implementation.
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