Recent Gartner research confirms the supply chain technology predictions for 2021. The key findings from that article are,
“72% of supply chain organizations view technology as a source of competitive advantage, only 47% manage SCM technology horizontally and holistically across functional domains.”
To achieve overall business growth and revenue maximization, you must drive customer-centric innovation through technology-enabled supply chain management.
Over the past decade, many forces have compelled SMBs to reinvent their supply chain strategies. Globalization of business offerings, the conception of product diversity, the increased complexity of supply chain networks, and the compressed product life cycles are few factors, which forced enterprises to modify their business model.
To stay competitive, few rational companies collaborated and integrated their supply chain partners and obtained Reduced Costs, Improved Customer Services, Business Visibility, Inventory Effectiveness, and Streamlined Processes.
Due to COVID-19,
- The supply chains struggle with logistical bottlenecks from restrictions on the flow of goods, increasing the importance of transportation and negatively affecting freight capacity.
- Lockdowns of cities/countries and border crossings are causing disruptions for shippers as well as confusion around actual status at multiple locations.
- Limited labor workforces at warehouses and distribution centers, as well as at brokers and logistics service providers, are causing delays at pickup and delivery locations. This is placing a renewed focus on robotics and other forms of materials handling automation.
- Recent logistics challenges are demanding the rerouting of products direct to stores, but lack of real-time information restricts demand and supply planning. For SMBs, this is a fundamental task as they can’t afford product wastage. Data visibility can help alleviate this problem significantly. If SMBs can leverage their supply & demand, they can resolve much of their supply chain constraint. But achieving data visibility prevails to be a primary challenge.
In a business world driven by mobility, cloud, and digitalization, the future supply chain will require new strategies to ensure agility, productivity, and high security. ITOrizon & Oracle NetSuite will achieve this together by offering end-to-end leadership across the supply chain landscape, including
- SCM
- Order Management
- Warehouse Management
- Transportation Management
- Labor Management
- Supply Chain Integration and Digital Solutions
Accelerate the business growth by digitizing the supply chain operations across their modules. Partner with ITOrizon and leverage their Center of Excellence for your Supply Chain Success
Engage with ITOrizon Team to get detailed insights on the digital transformation journey.
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