Global supply chain activities generate data offering unprecedented value and utility.
Global supply chains consist of two primary, yet parallel flows – physical work activities and information creation, manipulation and retention. Increasingly as important as the actual fulfillment of goods, the increasing amounts of data generated and collected across the extended supply chain offers opportunities to protect brands, control costs, reduce risks and maintain trust – each contributing to significant new value creation. When collected and securely distributed from a unified platform, supply chain data improves operating efficiencies through improved collaboration, process automation and advanced analytics, while laying a foundation to explore emerging technologies including Blockchain, Artificial Intelligence, Machine Learning and Predictive Analytics.
Eliminating barriers to communication and working effectively together across the extended enterprise is key to success in today’s global economy. Relevant, accurate, actionable information made globally accessible 24/7 from a centralized master system of record and plan allows each supply chain partner to collaborate in an efficient, timely manner regardless of geographic location and maximize their collective value contribution to the supply chain activity.
Global supply chains of all sizes are experiencing rapidly rising data volumes and complexity. Business winners will excel at taming data complexity by implementing a simplified, standardized data strategy aligned with the organization’s information structures and most importantly, business goals. Once adopted, a unified digital datastore establishes a powerful foundation for insight and value discovery through analytic analysis, visualization and forecasting techniques.
Process automation is the technology-enabled performance of a business process or procedure, often without human assistance or oversight. Workflows across global trade networks and specialized processes (i.e. shipment to order association, order item monitoring for satisfactory compliance completion) are ideally suited for process automation and once implemented offer numerous business benefits including improved operating efficiency, reduced errors and lower resource costs.
Driven by the marketplace’s insatiable demand for the lowest price and the resulting expansion of global sourcing networks built with lowest cost countries, the increase in the quantity of service providers required to facilitate the import of goods, ever changing government regulations and programs, organizations must successfully adapt to survive. Organizations positioned for success require a flexible, secure, digital platform easily configurable for new business needs and evolving technologies to protect brands, control costs, reduce risks and maintain trust across the digital enterprise.