Companies have been rapidly shifting to digital infrastructure in recent years. Digital transformation, on the other hand, is fraught with barriers and problems that historically disrupt enterprises, particularly in the supply chain industry.
Supply chain software modernization is required to carry out digital transformation at the necessary speed and with the relevant business requirements. However, according to Boston Consulting Group’s 2020 report, 70% of digital transformation programs fail to meet their goals. How can a company avoid the most common pitfalls and construct a successful road map?
Transportation management system solutions, visibility platforms, transportation and tracking systems, data infrastructure, and more, have all evolved along with supply chain technology. Companies and suppliers, on the other hand, frequently ignore new technology owing to a lack of trust and fear of the unknown.
In the end, every innovation encompassed in a company’s digitization plan will result in improved operational efficiency, service quality, data insights, and cost savings.
The digital supply chain attempts a centralized approach to enable improved decision-making, rather than adopting discrete tools or services. To extract important insights from the acquired data, organizations require cross-functional data interchange and full integration.
How can visibility software facilitate supply chain visibility?
The digital supply chain not only collects data from a wider range of sources and devices but also analyses and distributes it in a timely and efficient manner. Supply chain executives may access information from every node and portion of the supply chain through an integrated and linked ecosystem, boosting accuracy, traceability, and operational efficiency.
Companies can find new patterns and tendencies, enabling more comprehensive business decisions, by collecting additional data through linked devices.
The insight gained through the digital supply chain minimizes the time spent on the whole order-to-cash cycle, resulting in a supply chain that is quicker, more flexible, and more efficient.
A well-connected supply chain keeps you informed about all current processes and helps you to spot potential problems early on. Visibility and concurrent monitoring make it easier to respond quickly to disruptive activities, reducing supply chain damage. As companies attempt to make their supply chains more agile and robust, more sophisticated and integrated data is required. Increased connection raises a slew of control issues; but, when paired with well-designed automation, this symbiotic relationship may deliver the best supply chain visibility conceivable. Businesses might identify new patterns and tendencies by collecting more data from connected devices.
Investing in a visibility platform is the most convenient approach to gaining end-to-end supply chain visibility. A robust supply chain visibility software solution allows all supply chain stakeholders to see activities, transactions, and shipments in a clear and integrated environment. It also facilitates businesses to increase margins while maintaining quality in enhancing supply chain efficiency.
Modernizing supply chain software
The most recent digital supply chain software not only collects data from a wider range of sources and devices, but also communicates them in a timely and efficient manner. Supply chain executives may access information from every sector and portion of the supply chain through integrated and networked data interchange — boosting accuracy, traceability, and operational efficiency.
Companies can identify new patterns and tendencies by collecting more data through connected devices, allowing them to make more holistic business choices. According to Gartner’s Supply Chain Survey, 59% of respondents had recently modernized portions of their supply chain technology.
Most significantly, the insight gained by data consolidation minimizes the time spent on the whole order-to-cash cycle, resulting in a supply chain that is quicker, more flexible, and more efficient.
Because supply networks will continue to change, investing in technology to automate processes will result in a more flexible supply chain and the ability to implement predictive analytics.
How ready are executives to invest in modernizing their supply chain infrastructure? Here are some numbers from a recent Kenco Group report:
- 39% of respondents said they would invest 10-20% over their current supply chain spend.
- 31% are willing to spend more than 20% of their spend.
Supply chain digitization is unavoidable; therefore, while it may appear stressful at first, costs and challenges may be reduced with the correct tools and planning.
Accelerating your supply chain with Agistix
Agistix is a global supply chain visibility platform provider that enables businesses to keep a finger on the pulse of their supply chains, reaching true visibility through data centralization.
Agistix’s solutions support the requirements of today’s quickly evolving data interfaces and formats, enabling a non-disruptive and efficient change for businesses. Our extensive business expertise lets us offer a multifunctional, easy-to-use software solution to have your supply chain in the palm of your hand.
Learn more about Agistix’s sophisticated and practical solutions here.