Supply chain operations are multi-faceted, with a lot of different stakeholders and even more moving components.
New technologies can make supply chain operations more efficient, and investing in new technology offers several benefits for businesses. Specifically, new technology can help to overcome ongoing challenges that hamper many supply chain departments and companies.
Below are a few major supply chain problems that can be tackled with emerging technology.
More than eight months into the COVID-19 pandemic, your company has hopefully absorbed the initial shock and is in the process of adjusting to a new normal. For manufacturers, navigating the new normal can and should involve Industry 4.0 technologies, which are currently powering advances in efficiency.
There are numerous ways Industry 4.0 technology can be useful during a global pandemic while still supporting long-term productivity and profitability. For example, wrist-worn devices can buzz when an employee breaches the guidelines for social distancing. Wearables can also capture location information for contact tracing in the event of a positive COVID test in your facility.
Manufacturers must decide where to deliver the products they make, the quantities to send and the channels through which goods will be delivered, all while minimizing costs and optimizing sales.
Businesses can optimize their supply chain through data, analytics and automated operations. This starts with data flowing back and forth from the manufacturing department to marketing. When decision-makers across the company have access to real-time data, it eliminates delays and bottlenecks. Decisions on distribution and other functions can be made quickly based on the data available.
For instance, real-time data can indicate which sales point needs how many products within a certain timeframe and if there are goods that must be returned. Real-time data can also indicate any unexpected events so that a backup plan can be readily triggered.
With a cornucopia of supply chain software solutions out there, the problem is how to successfully and strategically connect all supply chain information in a way that keeps the company able to handle change.
In addition to the challenging nature of automating information flow throughout the supply chain, many suppliers and logistics businesses in the chain may use different software solutions. This makes connecting to and automating supply chain data is even more complicated.
Supply chain department should avoid plug-ins and instead look at information integration applications or services. Companies should trust businesses specializing in information integration and opt for a complete integration approach over a patchwork approach. Supply chain companies should also utilize an information integration strategy in sequential steps, essentially following through on insights as they are revealed, rather than reacting to events. This proactive stance helps to buffer your company against unexpected change, such as the impacts of a global pandemic.
We Can Help Your Supply Chain Company Meet the Challenges of Today and Tomorrow
At ZDA, we provide custom staffing solutions and services so our clients can meet both short-term and long-term challenges. Please contact us today to find out how we can help your organization.