08 November 2016

Why isn’t your supply chain digital?

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Digitisation is here, but have you explored the benefits of digital transformation on your supply chain?

The figures speak for themselves; a digital supply chain can:

  • Lower procurement costs by 20%,
  • Reduce supply chain process costs by 50%, and
  • Increase revenue by 10%

If you haven’t digitised your supply chain, perhaps you need to consider the benefits a technology-assisted chain can offer:

Drive customer-centricity

In an increasingly customer-to-business global economy, it is vital to align your processes with meeting the needs of your end consumer. We have powerful tools at our disposal (Big Data, the Internet of Things, social media) allow businesses to know the desires of their customer as never before. A digitised supply chain holds the potential to deliver the customer with the right product at the right time.

Differentiation in a cluttered marketplace

Having total visibility is a differentiating factor in a world full of supply chains which are, for the most part, kept secret from the consumer. Differentiating your business or service equals revenue growth and has the potential to lower your costs significantly.

Improvements in productivity, quality and efficiency

Think Artificial Intelligence and robotics which allow you to collect data from one system, streamline it and then deploy it where it’s needed. ‘Human error’ is an expression these digital workers don’t know.

Responding quickly to customer demands and growing market share

As your business builds digital capability you’ll see drastic reductions in the time it takes to implement changes. Whilst it currently takes a couple of weeks or more to make changes in products, the introduction of 3D printing technology, coupled with data, brings with it the potential to respond to customer demands in less than a day.

Enhanced people management

Whilst supply-demand conversion occurred once a month a mere decade ago, the expectation is now that meetings can occur in real time. Instant communication means an equally prompt response, giving business the capacity to deliver on evolving consumer expectations through technology-assisted employee management.

The question is no longer one of why should you digitise your supply chain, but why haven’t you?

Claire Dowler is a Conference Producer with Akolade. She recently graduated with a double degree: a Bachelor of Journalism and a Bachelor of Media and Communications Studies majoring in International Communication. Claire minored in sarcasm and puns.
A ballroom-dancer who collects salt and pepper shakers and volunteers for animal rescue, you might say Claire has eclectic interests.

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