Why Supply Chain Need a Sudden change?

The pandemic has caused a significant change in how consumers and suppliers behave. Causing supply chain businesses to rethink their supply chain management processes. Covid-19 has forced many businesses across the globe to shut down, leading to a shortage of supply.

Fewer incoming orders and delivery bottlenecks are forcing companies to optimize supply chains, increase cooperation, better analyses, greater transparency, and above all a digital transformation is necessary.

Digital Transformation

Digitization is the new trending topic everywhere and in every industry. Till 2020 digitization was a future plan for many, but the Covid-19 have proved this is not a “ nice to have ” it is a “ Must have ” transformation.

During the Covid-19 crisis, many supply chain companies are facing difficulties to cope with it. Due to their outdated systems and process. The Major advantage of Digitization is Speed and Cost.

Adopting to the next technological level enables improved visibility and provides real-time insights. Making people along the chain to control and reduce the time to make strategic decisions. Manufacturers also believe they will see increased sales from more digital processes.

Perform intelligent analysis

Exceptional circumstance needs exceptional panning to survive, businesses need to concentrate on essentials. Due to fewer incoming orders and high cancellation managers need to react fast and swiftly. Controlling suppliers, capacity management, order management, delivery management and many more.

Supply Chain is a complex process that’s why the need for digitization is so important. For quick decision support, a software that deploys intelligent algorithms is thus ideal. The software helps you collect and analyse data.

Data Analytics

Analytics brings data-driven intelligence to supply chain business, reducing the overall cost. Data Visualization techniques can be in the form of charts, graphs, and tables to help decision making.

There are different types of data analytics

- Predictive analytics: Based on the existing data the predictive analytics give you a set of trends that are likely to occur in the future.

- Descriptive Analytics: Descriptive analytics breaks down the insights gathered from any data sets and summarizes all the information gathered to understand them better.

- Prescriptive Analytics: It helps businesses make decisions based on analytical findings.

- Cognitive Analytics: Cognitive analytics tries to study data and understanding patterns and interpreting them to give conclusions.

Early Detection

The recent crisis has once again proved and highlighted the importance of early detection and fast decision-making processes. The early detection system allows you to plan and do things before anything goes wrong.

For faster decision making, category managers need automated diagnostics such as alerts on delayed receipts, insights into under-performing stores and products, transportation systems, delivery process, variations in sales performance across channels, and impact of competitor price actions on their demand.

Robotics & Automation

The Need for automation and robotics is growing all over the globe making supply chain business more efficient. Many businesses are already using robotics to do certain tasks.

Advantages

- Reduced error, re-work, and risk rates
- Improved safety for employees in high-risk work environments
- Reduced cost and time.

The automation of simple and routine processes like order tracking, data analysis, and warehouse management. Thus making End to End supply chain operations more fluid.

Conclusion

Covid-19 pandemic has big impact on every industry especially Supply chain low demand and supply makes businesses to rethink. Until 2020 technology adoption was future plan but to cope situation like this we really need a master plan, to make that master plan technology adoption is the only option.

Watch this short animation for a glimpse into the life of a DELMIA Quintiq logistics planner.