What is changing the Supply Management profession?
The modern Supply Chain Management is coming into an era of evolution, heading for increased levels of: product varieties, customer demand fulfilment, options and engagement approaches, resulting in the need for integration of Digital tools, all this at the least possible cost.
The unparalleled transformation in the Supply Chain and Retail operations in most companies, is the result of the connection between business processes and technology influences. This merging of technologies supporting customers and the end-consumer satisfaction, has created a breaking point for the arrival of the Industry 4.0 revolution.
The Supply Chain needs to begin a complete transformation to be better prepared and adapted for the future, and adjust to the advantage at hand to increase brand loyalty, profitability and secure a more stable market share.
Supply Management professionals looking ahead five years into the future, think this revolution is, by all means, a unique opportunity for their profession to re-educate themselves as well as their team in the journey of taking their businesses to the next level to make a difference.
Specific supply strategies, influenced by the vigour of the above mention disruptive changes, can be, for instance, business strategies or supply missions.
How to successfully beat our competitor?
Supply Chain Management needs new capabilities for steady growth, which meet the current e-commerce boom: a new set of consumer expectations, innovative technology developments, more fulfilment methods, more routes to end consumers, along with better Economic models; these are some of the many challenges to solve.
Critical challenges to building the future Supply Chain:
- First, to recognise the way we operate and how we can interact with this transformation.
- To balance speed and cost to fulfil customer needs.
- To find a way out to operational complexity.
- The win the race for proximity or local supply from warehouses, transportation, and delivery services.
- Inventory forecasting and optimisation.
- To recognise how e-Commerce is impacting the way customers shop and the possible threat to physical stores.
- Managing different ways to offer our goods to meet new trends through Omni- channels.
- To achieve real-time deliveries, as promised.
- To break down silos operating a cross-collaborative approach to share data efficiently.
- Finding the skilled teamwork willing to take the challenge of a Digital Transformation.
- Gaining visibility throughout the Supply Chain.
- To re-educate our teams to embrace a new customer-centric culture.
- To keep training your teams in the innovating technologies to speed their tasks.
- To get through Legacy systems, to rapidly implement the transformation of your enterprise into a fully-digitalised business.
Summing up: the integration of a Digital Supply Chain transformation in your company will make your brand a winner, to stand ahead of your competition by establishing a more efficient customer-centric culture, gaining visibility and loyalty. Why not start now to make a difference? The sooner, the better!
Dave Food
Prophetic Technology
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