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Global supply chains are inherently intricate systems, and with increasing internal and external complexities, supply chain leaders are constantly at war with their operations. While it might seem like an impossible task, there are proven ways of getting a grip on the issues that hold companies back from realizing supply chain success.
According to a 2021 survey, Gartner finds that, “among 211 supply chain professionals, 34% of respondents said that adapting to new technology is the most important strategic change supply chain organizations will face five years from now.” We are in the midst of a make-or-break moment for supply chain leaders everywhere; a time to make the decision to secure your supply chain’s successful future. By incorporating digital supply chain platforms that make visibility a priority, managers are able to leverage the technology that is quickly redefining the future of supply chains.
Supply chain constraints in todays world: how supply chain platforms can help
Disjointed supply chains
A fragmented supply chain can have widespread implications with the end result being a negative customer experience. End-to-end visibility platforms have provided a solution to this disparate operation by connecting systems and creating much more accurate and accessible data. By incorporating all you dispersed supply chain data into a single software, businesses benefit from a seamless experience that allows for open communication channels and minimises disruption.
Unforeseen global disruptions
Covid-19, international conflict, natural disasters, and more external stressors pose an incredible threat to the global supply chain. While the nature of external threats can’t always be anticipated, it’s possible to minimize the impact by incorporating digital supply chain risk management solutions. Data analysis is key here, and when it is centralized across all supply chain divisions, accuracy in the decision-making process for risk management improves. This is because with all your systems’ data displayed in one place you have a single source of truth giving you confidence in your actions.
Increasingly difficult forecasting of demand
The aforementioned possibilities of disruption have made demand forecasting that much more difficult for supply chain management. If the past few years have taught us anything, it’s that your supply chain need’s to be as bulletproof as possible to survive. While some stressors are easily predicted, some of the most detrimental impacts often come unannounced and with a new set of challenges your supply chain has never faced before. To ensure your supply chain feels as little impact as possible no matter the challenge, putting necessary protective measures in place is key; often in the form of a visibility platform. By digitizing the supply chain, and connecting your data, businesses can rely on more accurate data sets for forecast models that make demand forecasting more reliable.
Outdated legacy systems
Digital supply chain platforms are undoubtedly the solution for future operations, but a sustainable operation relies on updated technologies. An outdated, manual supply chain solution leaves managers relying on inaccurate data with devastating results. Prioritizing digital solutions means appointing individuals into technological leadership roles who are tasked with digitizing and monitoring systems. With updated technology, the supply chain data is accurate and effective.
Conclusion
Investing in the visibility of your supply chain is a necessity for keeping costs low, delivering world-class customer experience, and staying competitive. While silo-based supply chains were once the norm, the reality is that a more streamlined, accountable operation adopting the latest technology is more likely to survive. There are increasing challenges emerging that will create long-term disruption to the supply chain, and businesses with a supply chain visibility platform are simply better prepared for such eventualities.
Supply chain visibility platforms are used extensively in managing global supply chains in a single source of truth. A supply chain visibility platform integrates various other software used in supply chain management like ERP, WMS, and TMS. To gain real control over stressors such as unforeseen disruptions, disjoined networks and more, investing into a digital supply chain visibility platform is key. While you can pick from mixed bag of solutions, keep in mind that one source of data is often the best option, backed by a team to guide you every step of the way. By talking to the experts and invest in your future, your supply chain is sure to succeed.
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