Disruptions during COVID-19 were widescale with many of the most efficient and successful global supply chains experiencing the greatest turmoil due to inflexible networks. Now, organizations are struggling to provide faster delivery, lower costs, greater sustainability, and customization services.
Becoming More Flexible
The answer to the current global supply chain problem is flexibility. Sadly, many senior executives are struggling to figure out ways to move forward because their technology simply does not adapt well to the changing market.
Technology upgrading and replacement every 12 to 15 years cannot meet the challenges of the modern market. The technology produced becomes obsolete by the time it is even launched and simply cannot integrate digital solutions rapidly enough to keep up with the ever-evolving changes.
Taking an Adaptive Approach
Companies have to take a more adaptive approach with technology that includes cloud-based software. Things such as artificial intelligence advanced analytics and machine learning all help to provide network optimization. Adaptive technology is the only way to form a resilient supply chain and gain a competitive edge.
Core light architecture combined with agile work practices is interdependent. Everything must adapt easily and quickly to change. A cloud-based system with software is capable of such a feat. All supply chain processes have to also be managed end-to-end. Silos that create separation between functions, countries, and businesses are eliminated.
Reinventing Supply Chains and Harmonizing ERP
Executive scramble to figure out which innovations provide the greatest competitive advantages. Many have set a goal of reinventing their current supply chains to better meet the changing market dynamics by removing the obstacles that stand in their way. Harmonization of ERP systems becomes the first step for some.
Lightening the load often involves reducing the ERP software core. ER tasks are broken into smaller and more efficient modules referred to as microservices. Everything is then connected via application programming interfaces (APIs).
Cloud-Based Information Exchange
Most business applications become cloud-based with real-time management carried out through software solutions. All services connect and the architecture’s flexibility and adaptably remain efficient. Boomi, MuleSoft, and SnapLogic provide integration services.
Maintaining Visibility
Supply chain organizations much have an efficient and secure way to exchange information and data. Visibility becomes important. Tracing the product from its inception to the point of sale requires an exchange of data using internal and external systems. Everything becomes optimized in real-time. Thanks to artificial intelligence, data-driven decisions become a help to optimize things further and enable real-time interactions.
Nowadays, replacing outdated systems and finding innovative solutions are less expensive allowing companies to take the steps they need to build a flexible and efficient supply chain. Companies can quickly determine the viability of a product in as little as 30 to 90 days by adopting an agile test and learn approach.
To form an adaptive supply chain, companies need to spring ahead with modern data management strategies which means revamping their internal systems to improve flexibly, achieve greater profitability and meet the rapidly changing demands of their customers.
