Every industry around the world is experiencing constant, technology-driven transformation. The supply chain is no exception to this, as Infor has revealed in its white paper.
Expectations for speed, service and quality continue to increase from consumers and clients as technology continues to improve. However, meeting this ever-increasing demand is not just as easy as adopting new technology and processes - a digitalisation process must first take place.
Building greater connectivity across the supply chain, taking the proper steps to effectively and efficiently deploy digital transformation and technology, and improving visibility, reactivity and anticipation, will create a fully-connected future for businesses.
Digital disruption has transformed everything, from the way we listen to music to the way we rent a hotel or book a taxi. Digital transformation is about making life easier for consumers in any way possible with innovative, new technology. The impact this has on the supply chain cannot be understated.
As Industry 4.0 continues to usher in new technologies at an unprecedented rate, even the smallest start-ups are being given the opportunity to establish themselves within the industry. On the other hand, businesses and organisations too slow to react are falling behind the competition at an alarming pace.
Modern enterprise resource planning solutions have improved processes within companies, whilst electronic data interchange is constantly driving improved communication between suppliers. Transportation management systems are moving products to the market faster than ever before, with much greater efficiency. But evolution and transformation doesn’t stop there.
Supply chain digitalisation is bringing in greater visibility, reactivity and anticipation in networks around the globe. But the journey to realising these benefits is not simple. No two transformation journeys are the same, either, but all are as crucial to success as each other.
Consumers are the absolute priority for retailers in the modern business environment. Meaning e-commerce grows as physical stores become less important to both shoppers and brands. Consumers expect items quicker than ever before, requiring significant transformation from supply chains to meet this demand.
Digital transformation is no new concept. The topic has been spoken about more than enough in recent years. But despite this, too few supply chains have begun their journeys. The early adopters of transformative technology are seeing cost-to-serve reductions, increased customer satisfaction, and improved market share.
Whilst the journey to achieving transformation takes time, it is clear that it is now a necessity for any business hoping to compete in the modern business world.
For more information on procurement, supply chain and logistics topics - please take a look at the latest edition of Supply Chain Digital magazine.