Amidst the Fourth Industrial Revolution (Industry 4.0), businesses worldwide are leveraging technology to accelerate and enhance existing processes as companies seek to implement change in the workplace.
As part of Bain & Company’s figure chart, the findings showed that digital manufacturing improved overall productivity by 15-20% overall, with support functions ranked highest with 20-30%. In addition, digital manufacturing allows for production flexibility and quality.
With four key areas in mind, digital supply chains can deliver step-change improvement through automated processes such as the enhancement of visibility and more accessible information across the whole supply chain. Advanced analytics can substantially help with planning and forecasting as well as digital tools enabling employee productivity and safety to be increased.
According to the Bain & Company article, to be successful there are five key guidelines for companies to follow in order to ensure that digital investments deliver the best returns.
For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.