Why organizations are turning to optimized Supply Chain!
There has been a paradigm shift, in the method of doing business throughout the world, due to rapid expansion of geopolitical boundaries. This has compelled organizations to shed their old skin and adopt the latest technologies of doing international business. None better approach than refining the supply chain management of the organization and align strategies which would be helpful in implementing new technologies. Supply chain management is basically streamlining of the businesses supply side activities for maximizing customer satisfaction and in the process gain competitive advantage. It involves host of processes from raw material procurement, storage, conversion to finished product and distribution to the end user. Thus, monitoring of the upstream and downstream value-added flows of material and information, amongst all the stake holders of the business is extremely important.
There has to be a systematic and strategic coordination amongst business functions, which would lead to profit maximization by cutting operational cost. Latest supply chain management solutions aim at increasing the sustainability of the business in the long run. It helps the process to be leaner, which means driving out any wasteful activity, only honing the value-added ones. However, for an effective supply chain management strategy to work, a total system view of the business landscape is crucial. This is where a good technology partner is so important. They would guide the organization, with the latest advancements in the supply chain technologies and implement the same in the most cost-effective manner. With a strong supply chain framework, organizations can increase customer focus, which in turn is crucial for market penetration.
Better business data management through advance technologies
It is important to vertically integrate the functions of the organization, like product design, procurement, order fulfilment, following up with efficient distribution. This will in turn increase the real-time collaboration amongst the stake holder of the business, leading to increased productivity. There has to be a well layout process backed by relevant technology, which would help organizations absorb the demand shock and accordingly supply smoothly. Some of the well-known tools available in the market includes advance ERP solutions, CRM, and Financial modules. It’s important to increase data visualization and acquire supreme analytical capabilities, in order to gain competitive advantage. Smart business houses, boast of having superior risk mitigation capabilities, which can only be possible with the proactive use of advance technology.
With the rise in business stakeholder, there is a sudden surge in the data capture points. These large amount of raw data, can be misleading if not properly managed. Then there lies the problem of data duplication, due to repetitive supply chain processes. However, thanks to advance technologies available now, that data singularity can be maintained, laying out a proper picture of the business. That is why proper governance check is important for maintaining the structure of the supply chain. This is where SAP PI is very helpful, as it has advance system landscape integration capabilities, providing a holistic view of the business. For business like logistic management, mobility is the name of the game, for which SAP EP is known for. It provides awesome capabilities of a personalized web-based system access, providing the much-needed flexibility to the field personnel.
Next Level Supply chain with the advent of AI
Nowadays, the supply chain management has taken a whole new dimension, with the extensive usage of AI (Artificial Intelligence). AI solutions are known to imitate human behavior, which means that their capabilities can be extended to undertake critical decision making, pertaining to the business. It is important to establish proper links with AI to various business scenarios. It can be easily done by capturing various data feeds from avenues like social media, field-sensors and other customer contact points. The awesome capabilities of AI, analyze these raw data and churn out the best possible solution to any immediate bottleneck of the business. In other words, organizations get the capabilities of undertaking feasible action, based on the most critical threat perception. Some other popular supply chain technologies are SAP HANA, IBP, APO, etc. To cope with the huge inbound-outbound logistical load, “Extended Warehouse Management systems,” as used. For high value field asset management, latest asset management technologies should be used to derive greater ROI. These are the tools which would empower organizations to have a project driven supply chain.