Know why your Supply Chain solution is incomplete

Do lean six sigma, JIT manufacturing ring a bell with you? Those were buzzwords a decade ago. At the core, these programs relied on data. Manufacturing, sourcing, warehousing, and logistics industries lived by them and the mantra “Replace inventory with information.”

The concepts gained popularity among players with multiple partners in their value chain. Standardization followed, leading to a digital transformation of the supply chain across geographies.

Emerging markets, which until then were hubs of cheap manufacturing and labor, became large consumers. Managing inventory in complex distribution channels of these markets without digitization was unthinkable.  

Then came Industry 4.0

Until a few years ago, inventory management was all about balancing supply and demand. Pretty straightforward, you see!

Today’s customer journey is digital. All that is personalizable on a screen has to be so in real life. Therefore, manufacturers and channel partners must digitize inventory management to make personalization possible.

Moreover, the regulatory requirements demand all components on the finished product are traceable to the source, in case of a recall.

So, digitization is no longer an IT initiative; it’s a business requirement.

But it’s not without challenges.

Not all value chain partners are at par when it comes to IT maturity. Data security and governance standards vary. Also, the data isn’t homogeneous – making integrations a nightmare.

Here, cognitive technologies could help decipher content and make integration seamless.

Only when a solution provides insights…

A solution without actionable insights and forecasting abilities won’t incentivize partners across the value chain to improve data quality or share it.

You need to look for a mature platform with expertise in CPG domain to connect a global supply chain to a small retail store.

Transform your supply chain ecosystem with the power of visibility today.

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