A Smarter Global Supply Chain: The Answer To Major Global Disruption
The events of the past two+ years made significant changes to just about everything in our daily life. Our routines changed. We were subjected to a steep learning curve of new concepts, new approaches and new tactics including major shifts in how we work and live.
Unforeseen challenges for global manufacturing aren’t over. The shift to just-in-time for global manufacturing suppliers had been beneficial for both consumers and corporations but didn’t adapt gracefully to the “perfect storm” of production shutdowns, shipping congestion, materials shortages and panic buying. The global supply chain and logistics infrastructure that we all depended on to run like clockwork – didn’t. On the supply side, production sites were shut down, while on the demand side, customer anxiety inspired panic-buying. As businesses tried to fill increased demand, they found they weren’t able to secure the necessary components needed for manufacturing their products, which led to major disruptions in the supply chain.
Out of adversity comes opportunity. To address these challenges within their individual market footprints, companies are aggressively evaluating their current supply chain systems and proactively trying to make them more robust, efficient, and resilient. Those that can create efficiencies not only within their company but also within their supply chain, and even anticipate the needs of the end customers, will win in their sectors.
Smart Supply Chain companies will increase market share and profits. Over the next few years, “Smart Supply Chain” companies will be able to both understand and adapt to these changes faster than legacy companies. Such “Smart Supply Chain” applications will help their companies:
- Significantly increase Insights about Risks and Costs associated with their current supply chain
- Use critical digital platforms like Control Tower ― a data command center with key business metrics ― that fuels collaboration and smart decisions between the supply chain and customers, increasing efficiency, Overall Equipment Effectiveness and Overall Labor Effectiveness
- Exploit supply chain workflows fueled by data-driven decisions and AI, resulting in a more dynamic, agile and resilient supply chain capable of providing access to real-time data related to the order process, inventory, delivery and potential supply chain disruptions.
Armed with this additional revenue and manpower, greater collaboration and insight, Smart Supply Chain companies will pull away from legacy competitors while preparing for the supply chain shocks of the future.
To learn more about a smarter supply chain, speak with one of our experts today.
A flexible, resilient supply chain is essential to business survival today. Decisyon’s Supply Chain Management solutions improve supply chain reliability, reduce risk in supplier selection and improve efficiency in supplier management.