In modern supply chains “Agility” is a key word that every company is talking about. With constant and rapidly changing market conditions, organizations need to be lean and flexible in order to respond to disruptions quickly and effectively.
Organizations who adopt modern supply chain practices that are flexible, account for disruptions, and leverage new technology fair better in the long run. Let’s take a deeper look into how Technology, Continuous Improvement, and Resilience help supply chains remain relevant and sustainable.
Innovation is key to business improvement and supply chain management is no exception. To meet ever-changing consumer demands, organizations must continually optimize the productivity of their supply network due to global competition. Leveraging modern technologies can help simplify processes, reduce costs, improve customer satisfaction, and provide greater control over supply chain operations.
Big Data and Supply Chain Analytics
Supply chains generate big data and analytics that turn into real insights.
Big supply chain analytics uses data and quantitative methods to improve decision making for all activities across the supply chain. In particular, it does two new things. First, it expands the dataset for analysis beyond the traditional internal data held on Enterprise Resource Planning (ERP) and supply chain management (SCM) systems. Second, it applies powerful statistical methods to both new and existing data sources. This creates new insights that help improve supply chain decision-making, all the way from the improvement of front-line operations, to strategic choices, such as the selection of the right supply chain operating models.
The change from traditional supply chain methodology to a more modern approach means companies are looking for a new kind of supply chain professional for their organization. A role in a modern supply chain nowadays is a cross between Logistics and IT Consulting. ERP implementation experience is key but having skills in SQL, Excel and Python Programming gives candidates a huge advantage.