Digital transformation can mean different things to different businesses. It could be replacing simple manual processes with digitized solutions or in some cases, much more complicated things, like machine learning through artificial intelligence. In the context of supply chain management, not only solutions like ERP, WMS, transportation management systems, inventory management systems, but also integrated ecosystems that provide an end to end process solution including reports on KPIs, have a very quick payback & show instant results after implementation. In times like these, such solutions have become much more important to have for any business and more so, for supply chain companies.
Is Digital Transformation really that important?
It is critical for supply chain companies to be able to operate smoothly and minimize manual processes. In times where technologies like the Internet of Things and artificial intelligence rule the roost in terms of observing consumer behavior, monitoring demand, and managing supply, any business operating with manual processes or any other form of old solution is as obsolete as a CD player! Everything we use nowadays is tagged with the word smart. For example, a smart refrigerator; is capable of monitoring your eating patterns, suggesting meal plans for healthy eating, and even order new supplies online before you run out. Imagine competing with something so advanced, using an old solution. The writing’s on the wall for businesses that are not inclined towards investing in digital transformation.
What should you focus on?
Supply chain businesses should focus on end-to-end planning, supporting operations like warehouse management and analysis for further decision making. Companies should look for solutions that link and combine modules like, inventory, shipping, and schedules. This information is collected from both internal and external sources, these are known as data points. These help in understanding performance issues by analyzing data from ERP, advance planning, warehouse management altogether. This will allow the business to forecast demand and performance with analytics, so planning can be more accurate and issues can be anticipated before they arise.
Is your business ready for Digital Transformation?
Of course, it is, and Captivix can help you with it. We help organizations with their digital transformation with our proven S.P.E.C Framework (Strategy, Planning, Executing & Confirming). It includes a series of strong analytical and execution steps that help businesses maximize their potential and boosts their revenue growth. CLICK HERE for an assessment or to BOOK AN APPOINTMENT