Now is the Time for a Supply Chain Digital Transformation
As we’ve all adjusted and started to get a feel for how business will operate, a few enterprises are overcoming their initial knee jerk reactions to the pandemic and are examining the fundamentals that need to be in place as the ingredients for creating a resilient supply chain and logistics operation in light of the outside context problem presented by the pandemic.
However, at the same time, most leaders seem determined to set the goalposts at a ‘return to normalcy’. Did that ever really work? Or are they just hoping to turn back the clock to a nostalgic, sepia tinged era where they could safely ignore the rickety data foundations their supply chain operations were built upon under the guise of ‘everyone’s got bad data, that’s just business’? As the pandemic has exposed to their customers the weak links in their people, processes, technologies and data, why would anyone want to return to way of business that knowingly wasted money and had incredibly inefficiencies when it came to dealing with routine exceptions, and crumbled entirely when confronted by a black swan event?
If the goal is a ‘return to normalcy’ before you will even consider investing in the foundations of your people, process, data or technology, there is one certain outcome of that path: such a goal will end with your competitors adapting, learning how to distill their massive data silos, taking your market share and leaving you with having to look for a job. We are experiencing an unprecedented disruption to our way of doing business that has exposed three fundamental truths about supply chain and logistics operations:
- Throwing bodies at a problem or using single purpose solutions creates more costs and inefficiencies than savings while also inhibiting scalability
- Data silos inhibit our ability to derive true, actionable insights and create multiple points of view with regards to ‘The Truth’.
- Customers, internal and external are demanding real-time, continuous intelligence and collaboration as a must have, not a nice to have.
Uncertainty is an eternal, unwavering fact. Absent true prescience, the future is always in motion. So how do we account for the uncertainty? We create a resilient supply chain by building on a strong foundation. Clean, actionable, real-time data insights produced from connecting, healing, and enriching all the internal and external data silos in our operations.
To discuss how TransVoyant can help you remove costs from your operations and improve service levels, reach out, let’s talk! If not now, when?