Supply Chain Transformation
Designed to make things more connected and facilitate business efficiencies, the Internet of Things (IoT) now touches almost every market in every corner of the world, connecting people to businesses in ways unimaginable just a few years ago.
An interesting by-product of its growth is the expectation put on businesses to provide outstanding, personalized service to each individual customer, yet do it on a global scale. This has presented unique challenges for brick-and-mortar organizations and virtual-based businesses alike. It seems as if a company needs to be “always on,” and ready to respond to the next customer request as personally as it did the last fifty times. This burden weighs heaviest on supply chain management (SCM).
Research suggests the link between customer satisfaction and business success is growing stronger by the day. A recent report from Gartner indicated that “89 percent of marketers compete primarily on the basis of customer experience — discrete moments that, together, strengthen or weaken a customer’s preference, loyalty and advocacy.” (Gartner, 2016). For companies without a centralized means to access, and act on, supply chain data, this statistic can seem overwhelming.
So, how do you capitalize on this movement and not fall victim to process shortfalls or disgruntled customers. Although data is critical to implementing a modern, demand-driven supply chain, the key is not just in managing the data; that’s merely a step in the process. True value, and true business benefit, comes when a company optimizes its data and its relationships across the entire supply chain.
Make information actionable for improved efficiencies, transparent for enhanced serviceability, and streamlined for better profitability. Although some may balk at this seemingly daunting task, it’s important to recognize that neither the data train nor customer expectations are slowing down. The way to meet these challenges is to unify business intelligence across the entire supply chain.
Download to discover:
- How to capitalize on data to inform your business decisions
- How to optimize data and processes across the entire supply chain
- The tools necessary to create efficiencies in supply chain in today’s modern world