Three Key Trends in Supply Chain Transformation
In recent findings of a research study conducted by Forbes, it was found that 82% of procurement organizations worldwide are currently undergoing a supply chain transformation. As supply chain operations continue to experience fast-paced changes and become increasingly technology-oriented, Moglix brings to you the 3 most important levers, transforming supply chains globally:
- An Integrated, Customer-Centric and Agile Supply Chain:
With today’s customers being better informed/connected, there is a rise in their expectations and an increased demand for customization. This, in turn, drives complexity to supply chains, requiring agility and multi-party orchestration. Hence, creating an integrated supply chain management system wherein every link throughout the network has full visibility in real time, is the need of the hour.
The Digitization of Supply Chain:
The rise of Industry 4.0 in supply chain planning has ushered in a wave of digitization, with e-commerce, digital marketing, social media, to aid in the overall enhancement of customer experience. A vertical integration of the entire operation process from inception is moving towards becoming a digital ecosystem. Technologies like the Cloud, Big Data, IoT, Augmented reality etc. are looking to create dynamic models that will adapt to new information automatically, becoming more accurate and efficient over time at forecasting and streamlining.
The Evolution of Supply Chain Analytics:
The infinite ocean of data reflecting customer experience has the potential to transform supply chains and business models. Hence, in order to effectively uncover essential business insights, the development of a singular overarching data management strategy that in turn aligns with a company’s business goals is imperative.
On an operational level, supply chain management systems are in the midst of a transformation and focusing on the aforementioned trends will help organizations in attaining maximum consumer satisfaction and competitiveness. Let us know more about your thoughts on the topic and what according to you, are the key trends to look out for, in the comments section below.