The supply chain has become one of the major tools in resource management, logistics and optimization.
Today’s digital technologies provide the supply chain to attain situational awareness and decision making. It has become more customer-driven, personalized, agile, and responsive. This digitized supply chain has not only increased efficiency, but has also led to improving customer experience and revenue growth.
The companies that are achieving the best results are those that have actively invested in a comprehensive digital strategy.
To function in a connected, informed, smart, and automated way, the supply chain will be further embedded into every other function. Currently, many progressives have integrated their supply chains into systems such as finance, procurement, and marketing.
The objectives of the digitization of the supply chain will keep moving towards the ultimate goal, which is satisfying their customers. This is how the majority of companies should see the role of their supply chain.
A good leader plays an integral role in the success of the supply chain digitization, which is becoming an enterprise-wide transformation. At this level, the support from the very top, including the CEO, is invaluable. Currently, more than three-fourths of progressives have CEOs for whom the supply chain is one of the top priorities.
Continuity of investment in supply chain digitization will continue to be the key to achieve optimal results. Companies that have recognized this have had the highest levels of investment over the past two years and plan to continue over the next two years.
So, leaders, if you are reading this, it’s time for you to join this race and embrace the changing times to stay at the forefront of your industry.