Growth, global expansion, and building complex networks of partnerships are a boon to businesses, but they also come at a price. Greater complexity invites greater risk and room for error, and if companies aren’t careful, they may easily enter into unwieldy processes and systems that are ineffective and inefficient.
Gartner just released their Magic Quadrant for Multienterprise Supply Chain Business Networks. But what exactly are they and how can they help your business?
At its root, the term encapsulates how supply chains have evolved into complex networks involving multiple parties and partners. Across orders, organizations must communicate with everyone from manufacturing and warehousing to transportation partners, freight forwarders, distributors, retailers, and others. While having all these connections is certainly advantageous, the pressing question is: are you really making the most of what you have?
55% of business leaders in supply chain and top bosses in finance plan to invest in Artificial Intelligence in the next couple of years according to a recent Forrester survey. This stat tells us AI is increasingly being seen as a technology capable of driving effective decision making and improving operational processes.
The modus operandi of the ‘sales process’ has changed over the years in both the B2B and B2C spheres; it has moved from being a largely offline to an online process and this transformation has also changed customer expectations vis-à-vis product delivery.
There’s no question that the supply chain is a strategic asset for forward-thinking retailers and brand owners. Getting products from A to Z efficiently while maintaining a positive customer experience is a big balancing act that supply chain leaders deal with every day. So, how can your supply chain have an impact on customer satisfaction levels? How do successful companies view their supply chains and why is it worth investing in them? While the path to success may not be obvious, some recent research gives us some clues.
The prospect of the two leading global economies, the United States and China, pushing beyond the trading of punitive tariffs and into a full-scale trade war is creating a lot of uncertainty. The potential fall out for organizations engaged in global trade could be disastrous. But the desire to reduce risk and protect future profits also creates the drive for improvement that will lead forward-thinking businesses to pursue real-time visibility and control over their supply chains. By adopting supply chain orchestration (SCO) global organizations may be able to reduce some of the uncertainties that comes with these tariffs.
We've talked about the "Amazon Effect", and the need for agile supply chains to properly handle the increasing expectations customers have regarding factors like costs, availability, and the delivery options of the items they are purchasing. And those increased expectations have also bled into business or B2B transactions as well. After all, business buyers go home at night and grocery shop, go to the mall, and shop online like everyone else.
Agility has been a huge focus for organizations as we enter unpredictable waters of the current and future economy. Increasing customer expectations, global business challenges and digitization are greatly impacting how we market and sell our products and provide a high level customer experience through the supply chain. And agility is critical to sustained business success.
The definition of Supply chain visibility has evolved more than any other term in supply chain. From track and trace to multi-tier inventory, supply chain visibility is used to describe improvements in how we use data to track and make better decisions in our supply chain.
Today, we would like to talk about end-to-end supply chain visibility and how organizations are using supply chain orchestration in order to get real-time actionable visibility into the orders that are being executed throughout their end-to-end supply chains. This is key.
Last week, MPO and DSV co-presented on the webinar, "15 Critical Functions of Supply Chain Control Towers". As with every webinar we do we receive a whole host of insightful questions from the audience, many of which we answer on the webinar and the rest which we want to answer via our blog.
Here are the questions from the webinar and answers from our team of experts.
Supply chain networks and our ability to collaborate across them is becoming a critical core competency for successful supply chain operations. With more external parties and partners involved in helping us to deliver a positive customer experience through the supply chain, it’s critical that we evolve how we think about these parties, their impact on business success and how we consistently improve collaboration across them.
I was recently reading Adrian Gonzalez’s 2018 supply chain predictions on his Talking Logistics blog and I found myself nodding at many of his points. We live in a chaotic world where change is the only constant to our lives and we’re seeing that with the massive changes in business and the economy. Changes that will require a different approach to how we measure, connect and execute our supply chains.