Digitalizing the supply chain is critical for Indian manufacturing companies to navigate uncertainty in the market as a result of shifting global trade regulations, recession, market turbulence, climate change, and weather events that can disrupt operations.
To overcome the challenges associated with market volatility, organizations need a digital supply chain to drive efficient operations. Three aspects that define a digital supply chain are visibility, sustainability, and improved customer experiences.
Visibility and Connected Processes
Complete supply chain visibility has been a strategic priority for Indian supply chain managers for awhile now.
Consider asking: how many of your supply chain partners are you connected with, digitally?
In the manufacturing space, connectedness is the prerequisite to visibility. This connectedness can expand its purview to include logistics and assets. Are you connected with your carriers and equipment manufacturers with Internet of Things?
You might realize you are a fraction of the way there. This is the span of connectedness we can aim to achieve for a truly digital supply chain.
Today, technology such as predictive analytics, IoT, machine learning, and cloud-based supply chain solutions aim to drive business agility with better supply chain visibility.
Sustainability should be viewed in both its business and environmental use cases. When navigating increasingly dramatic climate change, environmental sustainability makes sense. But since businesses zero in on growth, a sustainable business expansion might make more sense.
In many ways, the two overlap. Running with an optimized supply of resource means running efficiently which saves money. Today’s technology can help manufacturing businesses aim for sustainable growth and achieve it with a minimal carbon footprint.
Predictive maintenance can increase equipment lifecycle, additive manufacturing can locate a customer the closest production unit, and IoT and ML can optimize energy consumption for large equipment deployments. A digital supply chain needs the agility to help organizations implement and support such innovation across processes.
Improved Customer Experiences
Total supply chain visibility and sustainable business growth meet to help drive enhanced customer experiences. Supply chain visibility is integral to improving customer experiences.
Problems in receiving a product or service after making the payment can deteriorate an otherwise great customer experience. And if your supply chain fails to address new trends with new products, your customers will consider competitors.
Indian customers are also craving innovative business models that have sustainability at their foundation. Maybe you can cut down on capital outlays with a subscription program. Maybe you can offer XaaS where the customer has no ownership but pays for the services and products used.
With advancements like this, Indian manufacturers can reduce supply chain risk and delivery latency dramatically, paving the path for better experiences.
IDC estimates that by 2020, fifty percent of all manufacturing supply chains will have the in-house or outsourced capability to deliver directly to the customer’s doorstep.
No matter what your business model is, you need better visibility, sustainability, and experiences to drive growth and operational efficiency. Since the global economy struggles with volatility and uncertainty, you need more control over your supply chain to sail through.
itelligence helps empower supply chains with intelligent ERPs like SAP S/4HANA. As a platinum partner, we are committed to bringing the best in your supply chain by enabling digital transformation for your enterprise.