Recent global events have created new levels of digital supply chain disruption, highlighting a lack of visibility into business and operations. In the face of disruption, organizations were left unable to forecast demand, predict supply and meet delivery schedules.
Organizations of all sizes need to speed up their transformation initiatives to digitize their supply chains for flexibility, agility and increased supply chain visibility into all trading partner activity.
Digitizing supply chains through modern integration, automation and secure and connected ecosystems makes it easy to manage information flows and uncover the insights to ensure continued operations, even in the face of major disruptions.
Disruption is driving the need for greater digital transformation alongside increasing economic pressures to decrease costs, without reducing business outcomes.
91% of business leaders believe their company has a responsibility to act on ESG issues1, driving the need to ensure sustainable, ethical supply chains. Going forward, organizations that understand and act on customer expectations around ethical, sustainable sourcing will demonstrate leadership in environmental, social and governance (ESG).
50%+ of companies lack end-to-end visibility into their supply chains2, leading companies to add oversight to their supply chain to mitigate disruption risk. Organizations need Control Towers to better monitor transaction flows throughout the supply chain to increase supply chain transparency, resiliency and agility and remove risk from the entire ecosystem.
95% of executives agree that the circular economy poses an opportunity for their organization3, increasing the focus on complete product lifecycle processes. Intelligent, connected and secure business network platforms alongside innovative technologies are the key to closing the circularity gap and evolving business models for the circular economy.
72% of suppliers that experienced a supply chain disruption lacked the visibility to come up with a fast and effective solution4, highlighting a need for better insights. Organizations need to leverage analytics, artificial intelligence and machine learning to react to avoid disruptions with an autonomous supply chain.
Digitizing supply chains offers greater flexibility in accessing supply chain information, improved collaboration with key stakeholders across the digital ecosystem and end-to-end visibility to improve business benefits and create efficient B2B operations that address current business needs and emerging risks.
Companies of all sizes face a similar challenge in today’s world, connecting with customers and trading partners around the world. Modern supply chain integration allows all organizations to seamlessly integrate the right people, processes and technologies into their digital business ecosystem.
Manually connecting the once linear supply chain into a complex interconnected supply ecosystem is slow and often pulls resources from business growth areas. Supply chain automation creates a digitized, optimized and integrated network that allows for increased efficiency and productivity.
Staggering amounts of information passing from sensors to the cloud to business systems and back opens organizations to security breaches when not managed properly. Connecting supply chain ecosystems with secure access points and credentialing seamlessly tracks shipments from start to finish, while preventing breaches.
2 The Association for Supply Chain Management (ASCM), The Resilient Supply Chain Benchmark: Ready for Anything? Turbulence and the Resilience Imperative, 2021.
3 Newsweek Vantage, Going Circular: How Global Business Is Embracing the Circular Economy, January 2019.
4 Resilinc, EventWatch® First Half 2018 Supply Chain Disruption Report.