Three steps to supply chain transformation

Featured in:
Published on: 15 November 2022
Written by: Tridant

A large number of supply chains have been left in the dust and organisations are paying the price for not keeping up with evolving technology to streamline the supply process. Many have been too slow to react and are still developing the foundational capabilities required to compete in today’s competitive market.

On the other hand, proactive supply chain leaders have already developed, tested, deployed and measured digital innovation within their supply chain and are reaping the rewards. Supply chain leaders who successfully achieve supply chain digital transformation integrate well-established physical capabilities with emerging digital technology. This helps the supply chain operate more efficiently, increases its flexibility and helps minimise the impacts of disruptions.

By developing the foundational supply chain capabilities and then incorporating proven business and technology innovations, leading supply chains are able to move beyond the stage of exploration and progress to integration and optimisation. These more advanced capabilities provide the platform for developing innovative ways of operating, creating new business models and obtaining significant competitive advantages.

To help you optimise your supply chain, we have outlined a three step process for successful supply chain digital transformation.

1. Embed supply chain in the digital ecosystem

The digital ecosystem of an organisation is a dynamic network of entities interacting with one another through real-time integrated solutions to create and exchange sustainable value. With the use of modern technology, information can be shared effectively and efficiently throughout the entirety of an organisation’s digital ecosystem. This information can then be used to assist in decision making and drive efficiencies across the supply channels.

2. Undergoing supply chain transformation

The automation of supply chain processes has been occurring for decades due to the continuous development of new innovative technologies. With artificial intelligence (AI) now available, supply chain leaders can implement autonomous processes into functions usually carried out by people, which brings a range of benefits to an organisation. AI can provide key information to decision makers and autonomously make a range of complex decisions such as:

  • better predict demand
  • set inventory levels
  • reroute transportation
  • redesign the supply and distribution network.

To ensure the implementation of new technology can be successful, supply chain leaders must ensure that their supply chain is ready for digital business. This includes becoming more informed about the use of digital technologies and the operating processes best suited to leverage them.

3. Synchronise with digital business

Supply chain leaders play a crucial role in identifying and addressing any gaps, obstacles, and vulnerabilities in their organisation’s response to the challenge of digital business and delivering value to their customers.

Synchronising physical capabilities with digital capabilities helps build resiliency within a supply chain and supply chain leaders, as a result, can identify potential disruptions within the supply chain ecosystem much easier. These disruptions can then be mitigated and the impacts to the supply chain can be minimised.

In today’s competitive market, organisations with an inefficient supply chain are falling behind whilst those optimising their supply chain with emerging technology are reaping the rewards. A successful supply chain transformation can significantly enhance an organisation’s supply chain and proactive supply chain leaders have benefited from the integration of well-established physical capabilities with emerging digital technology. Our three step guide to a successful supply chain transformation will enhance your supply chain and help your business meet its objectives.

If you are considering undergoing a supply chain transformation and would like to discuss the next steps please contact us, or visit our website to see other ways in which we can help you optimise your supply chain to gain an advantage over your competitors.

Tridant Supply Chain Solutions

Tridant's Sales & Operation Planning (S&OP) Application uses innovative technology to enable a connected supply chain with fast, accurate data analysis across your whole business. The solution assists businesses in achieving balance between fluctuating demand and supply though intelligent sales forecasts, ensuring efficient connection between all links within the supply chain. Find about more about the S&OP app here.

Tridant's Inventory Optimisation (IO) Application enables supply chain decisionmakers to leverage consolidated company-wide data for granular, real-time views into supply levels, demand forecasts and costs. With instant visibility into critical supply chain metrics, stakeholders can better understand potential disruptions, allowing businesses to minimise impacts by making inventory adjustments quickly. Find out more about the IO app here.

Related Articles

Copyright © Tridant Pty Ltd.

Privacy Policy